Iowa Telecom Shareholders Approve $1.1 Billion Merger with Windstream

by Arkansas Business Staff  on Thursday, Mar. 25, 2010 1:52 pm  

Iowa Telecommunications Services Inc. of Newton, Iowa, said Thursday that its shareholders voted to approve a previously announced merger agreement providing for the acquisition of the company by Windstream Corp. of Little Rock.

Of the shares voted at Thursday's special meeting, 97.8 percent were cast in favor of adoption of the merger agreement.

Iowa Telecom (NYSE: &&IWA%%) agreed to the $1.1 billion merger in November. The deal is expected to close in mid-2010.

In February, Windstream and Iowa Telecom settled a lawsuit brought by Iowa Telecom shareholders over the two firms' plans.

 

 

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