The acquisition of Embarq by CenturyTel, a Monroe-based telecommunication provider, has been approved by shareholders of both companies. In a joint news release, the companies said the deal was approved today by more than 96% of CenturyTel shares cast, while 79% of the shares of Overland Park, Kan.-based Embarq were in favor. Embarq shareholders will receive 1.37 CenturyTel shares for each share of Embarq stock. Embarq shareholders will own about 66% of the combined company’s total shares. If approved by federal and state regulators, the combined company will operate in 33 states with 8 million telephone lines, 2 million broadband customers and about 400,000 video subscribers. The companies hope to close the deal during the second quarter.
CenturyTel-Embarq deal approved by shareholders
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