Windstream Acquires Iowa Telecom for $1.1 Billion (WIN,IWA)

11/24/2009-Windstream (NYSE:WIN) announced it entered into a definitive agreement to acquire Iowa Telecommunications Services (NYSE:IWA) in a cash and stock deal valued at $1.1 billion.

IWA shareholders will receive about $16 per share, compared to yesterday's close of $12.69.

"These are well-run, profitable properties in very rural service areas that expand our presence in the Upper Midwest and grow our free cash flow per share," Windstream CEO Jeff Gardner says.

Write to Chip Brian at cbrian@tradethetrend.com

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