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NTELOS up 20% on $640M buyout by Shentel

Aug. 10, 2015 5:14 PM ETNTELOS Holdings Corp. (NTLS) StockBy: Jason Aycock, SA News Editor1 Comment
  • 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)

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NTELOS Holdings Corp.