- NTELOS Holdings (NASDAQ:NTLS) is up 20.1% after hours as it says it's to be acquired by Shenandoah Telecommunications (SHEN) in an all-cash deal of about $640M, including net debt.
- The deal -- the subject of rumors before -- means NTELOS shareholders will get $9.25/share (about $208M in cash) and Shentel will take on net debt of $431M.
- Shentel correspondingly has expanded its affiliate relationship with Sprint (S), which will shutter the "nTelos" brand and make the company's customers into Sprint-brand customers.
- The move is a "liquidity event at an attractive premium," says NTELOS CEO Rod Dir.
- Sprint shares gained 14% earlier today, to rise to their highest point in a month.
- Previously: NTELOS down 15%, gives back takeover-rumor gains (Jun. 09 2015)
- Previously: NTELOS up 19.7% on chatter Shentel could pay near-50% premium in buyout (May. 13 2015)