Uniti Group Inc. announced that its stockholders overwhelmingly approved the proposed merger with an affiliate of Windstream Holdings II, LLC at a special meeting. Over 90% of the shares of Uniti common stock present and represented voted in favor of the merger, marking a critical step towards the transaction's completion.
Under the terms of the definitive merger agreement, Uniti will become an indirect, wholly owned subsidiary of Windstream Parent, Inc., which will be renamed "Uniti Group Inc." and listed on the Nasdaq Global Market under the symbol "UNIT". Existing Uniti stockholders are set to receive approximately 62% of the outstanding common stock of the combined company.
Windstream shareholders will receive $425 million in cash, $575 million in preferred stock of the combined company, and approximately 38% of the outstanding common stock, along with non-voting warrants to acquire up to 6.9% of common stock. The merger is anticipated to close in the second half of 2025, pending certain regulatory approvals.
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