Consolidated Communications Merger Alert: Is $4.70 Fair? Shareholders Seeking More Money Should Contact Julie & Holleman Regarding Potential Claims

NEW YORK, Oct. 26, 2023 /PRNewswire/ -- Julie & Holleman LLP, a nationally recognized shareholder rights law firm, is investigating the proposed $4.70 per share sale of Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) to affiliates of Searchlight Capital and British Columbia Investment Management Corporation. The firm has already uncovered potential conflicts of interest and believes the deal price may be unfair to Consolidated's minority shareholders.

For a free consultation and to learn about our investigation, click here or visit: https://julieholleman.com/?p=3165

Consolidated is a leader in delivering fiber communications solutions, and its position promises a strong growth trajectory. Recognizing this upside, Searchlight, which owns approximately 34% of the company's stock, proposed to buy the company in April of 2023.  

On October 16, 2023, Consolidated announced that Searchlight reached a deal to acquire the remaining shares for $4.70 per share.

Julie & Holleman, whose attorneys have helped secure hundreds of millions of dollars for shareholders, is concerned about potential conflicts arising from the fact that Consolidated's largest shareholder wants to seize control of the rest of the company. In the past, Searchlight has used its significant stake in the company to secure two seats on Consolidated's board of directors and to gain access to insider information. Searchlight may have used this leverage to buyout the rest of the company at a steep discount. Indeed, the $4.70 per share deal price is well below the company's $5.50 per share 52-week high, and even less than the $8 per share trading prices from barely a year ago.

If you would like more information about our investigation, please contact W. Scott Holleman at [email protected] or (929) 415-1020, or submit your information by clicking here.

Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm's attorneys litigate in state and federal courts across the nation and have helped secure hundreds of millions of dollars for aggrieved companies and their shareholders. For more information about the firm, please visit https://www.julieholleman.com/. This notice may constitute attorney advertising. Past results do not guarantee future outcomes.

CONTACT INFORMATION

Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com

SOURCE Julie & Holleman LLP