December 5, 2016 / 12:22 PM / 8 months ago

BRIEF-Consolidated Communications to acquire Fairpoint Communications for $1.5 bln

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Dec 5 (Reuters) - Consolidated Communications Holdings Inc

* Consolidated Communications to acquire Fairpoint Communications, Inc.

* Consolidated Communications Holdings Inc - deal for $1.5 billion

* Consolidated Communications Holdings Inc- agreement and proposed merger have been unanimously approved by boards of directors at both companies

* Deal meaningfully cash flow per share accretive in year one

* Consolidated Communications Holdings - Fairpoint shareholders will receive a fixed exchange ratio of 0.7300 shares of co for each share of Fairpoint

* Consolidated Communications Holdings Inc - transaction is expected to generate annual operating synergies of approximately $55 million Source text for Eikon: Further company coverage:

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