- Lumos Networks (NASDAQ:LMOS) is up 16.1% after announcing a deal to be acquired by EQT Infrastructure at an 18.2% premium.
- EQT will pay $18/share in all cash, the companies said in an announcement on the market holiday. That provides for an enterprise value of about $950M.
- Lumos had closed Friday at $15.23.
- The deal marks a 34.9% premium to Lumos' volume-weighted price average of the past 12 months.
- All voting boardmembers approved, and the deal's closing needs shareholder and regulatory approvals. It's expected during Q3.