News
Centennial Communications Corp. (NASDAQ: CYCL) ("Centennial") will hold a special meeting of stockholders on February 24, 2009 at The Waldorf=Astoria Hotel in New York City at 10:00 a.m. ET for the purpose of considering and voting upon a proposal to adopt the Agreement and Plan of Merger, dated as of November 7, 2008 (the "Merger Agreement"), providing for the acquisition of Centennial by AT&T Inc.
Only Centennial stockholders of record as of the close of business on January 13, 2009 will be entitled to notice of, and to vote at ,the special meeting of stockholders and any adjournment or postponement of the special meeting. Additional information concerning the special meeting and the transaction will be included in Centennial's definitive proxy statement, which Centennial expects to mail to its stockholders promptly after it is finalized.
On November 7, 2008, Centennial entered into the Merger Agreement under which AT&T Inc. will acquire Centennial (the "Merger"). Under terms of the Merger Agreement, Centennial stockholders will receive $8.50 per share in cash for a total equity price of $944 million. Including net debt, the total enterprise value is approximately $2.8 billion. Completion of the Merger is not subject to a financing condition, but is subject to (i) approval of the Merger by the Company's stockholders, (ii) conditions relating to approval by the Federal Communications Commission, (iii) expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and (iv) other customary conditions to closing. Welsh, Carson, Anderson & Stowe, Centennial's largest stockholder, has agreed to vote in support of the Merger. The Company anticipates that the Merger will be completed by the end of the second quarter of calendar year 2009, assuming satisfaction or waiver of all of the conditions to the Merger.
| AT&T's Acquisition Of Centennial Up To Shareholders... | January 13, 2009 |
Only Centennial stockholders of record as of the close of business on January 13, 2009 will be entitled to notice of, and to vote at ,the special meeting of stockholders and any adjournment or postponement of the special meeting. Additional information concerning the special meeting and the transaction will be included in Centennial's definitive proxy statement, which Centennial expects to mail to its stockholders promptly after it is finalized.
On November 7, 2008, Centennial entered into the Merger Agreement under which AT&T Inc. will acquire Centennial (the "Merger"). Under terms of the Merger Agreement, Centennial stockholders will receive $8.50 per share in cash for a total equity price of $944 million. Including net debt, the total enterprise value is approximately $2.8 billion. Completion of the Merger is not subject to a financing condition, but is subject to (i) approval of the Merger by the Company's stockholders, (ii) conditions relating to approval by the Federal Communications Commission, (iii) expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and (iv) other customary conditions to closing. Welsh, Carson, Anderson & Stowe, Centennial's largest stockholder, has agreed to vote in support of the Merger. The Company anticipates that the Merger will be completed by the end of the second quarter of calendar year 2009, assuming satisfaction or waiver of all of the conditions to the Merger.
