Confirmed: CenturyTel (CTL) is buying larger rival Embarq (EQ) for about $5.76B in shares...

|By:, SA News Editor
Confirmed: CenturyTel (CTL) is buying larger rival Embarq (EQ) for about $5.76B in shares excluding debt, a 36% premium to Embarq's Friday close. Embarq shareholders will own 66% and CenturyTel 34% of the combined company. (PR)