PAETEC-Windstream Merger Approved Print
Friday, 04 November 2011 12:54


PAETEC Holding Corp. announced that at the special meeting of PAETEC stockholders they voted overwhelmingly to approve the proposed merger with Windstream Corporation (NASDAQ: WIN). Approximately 99% of the shares voting at the special meeting of stockholders voted in favor of the adoption of the merger agreement, which represented approximately 81% of PAETEC's total outstanding shares of common stock as of the September 12, 2011 record date for the special meeting.

Upon completion of the merger, PAETEC stockholders will receive 0.460 shares of Windstream common stock for each share of PAETEC common stock they own as of the effective time of the merger. The companies continue to expect the merger to be completed by December 31, 2011, following the satisfaction or waiver of all conditions to the merger.