August 23, 2007
FairPoint shareholders approve acquisition
FairPoint Communications' shareholders yesterday voted to approve the company's plan to acquire Verizon's landline operations in Maine, New Hampshire and Vermont.
FairPoint, based in Charlotte, N.C., in January announced the proposed deal, which involves merging its operations with a Verizon spinoff, 40% of which would be owned by FairPoint's shareholders. The consolidated business will become the country's eighth-largest telephone company.
The merger still awaits regulatory approval from each of the states involved.
FairPoint, based in Charlotte, N.C., in January announced the proposed deal, which involves merging its operations with a Verizon spinoff, 40% of which would be owned by FairPoint's shareholders. The consolidated business will become the country's eighth-largest telephone company.
The merger still awaits regulatory approval from each of the states involved.
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