D&E Communications, Inc. Announces Approval by the Pennsylvania Public Utility Commission of Its Merger With Windstream Corporation
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| Posted
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Fri, 06 Nov 2009 19:45:23 GMT |
| Author
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D & E Communications, Inc. |
| Category
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Press Release |
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EPHRATA, PA -- 11/06/09 --
D&E Communications, Inc. (NASDAQ: DECC) ("D&E")
today announced that the Pennsylvania Public Utility Commission (the "PUC")
approved the merger of Windstream Corporation and D&E. The decision by the
PUC provides the final regulatory agency approval of the merger agreement.
"With the action taken today by the PUC, I am pleased to report that we
have obtained all of the required approvals to the merger agreement," said
James W. Morozzi, President and Chief Executive Officer of D&E
Communications. "We anticipate closing the transaction by the end of next
week," said Morozzi.
About D&E
D&E is an integrated communications provider offering high-speed data,
Internet access, local and long distance telephone, data, professional IT
services, network monitoring, security solutions and video services. Based
in Lancaster County, D&E has been serving communities in central
Pennsylvania for more than 100 years. For more information, visit
www.decommunications.com.
About Windstream
Windstream Corporation is an S&P 500 company that provides digital phone,
high-speed Internet and high-definition video and entertainment services to
residential and business customers in 16 states. The company has
approximately 3 million access lines and about $3.2 billion in annual
revenues. Windstream is ranked 4th in the 2009 Business Week 50 ranking of
the best performing U.S. companies. For more information about Windstream,
visit www.windstream.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. These statements are based on management's current
expectations and beliefs and are subject to a number of factors and
uncertainties that could cause actual results to differ materially from
those described in the forward-looking statements. The forward-looking
statements contained in this document include statements concerning the
anticipated closing of the merger with Windstream. These statements are not
guarantees of future performance, involve certain risks, uncertainties and
assumptions that are difficult to predict, and are based upon assumptions
as to future events that may not prove accurate. Therefore, actual outcomes
and results may differ materially from what is expressed herein. For
example, if D&E fails to satisfy the conditions to closing, the transaction
may not be consummated. The following factors, among others, could cause
actual results to differ materially from those described in the
forward-looking statements: risks associated with uncertainty as to whether
the transaction will be completed, costs and potential litigation
associated with the transaction, the failure of either party to meet the
closing conditions set forth in the merger agreement and the other risk
factors discussed from time to time by the Company in reports filed with
the Securities and Exchange Commission. We urge you to carefully consider
the risks which are described in D&E's Annual Report on Form 10-K for the
year ended December 31, 2008 and in D&E's other SEC filings. D&E is under
no obligation to (and expressly disclaims any such obligation to) update or
alter its forward-looking statements whether as a result of new
information, future events, or otherwise.
CONTACT:
Thomas E. Morell
Sr. Vice President,
Chief Financial Officer
Secretary and
Treasurer
(717)738-8315
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