BALA CYNWYD, Pa., May 20, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of D&E Communications Inc. ("D&E" or the "Company") (Nasdaq:DECC) relating to the proposed acquisition by Windstream Corp. ("Windstream") (NYSE:WIN). Windstream has agreed to acquire D&E for approximately $330 million.
Under the proposed agreement, D&E shareholders will receive 0.650 shares of Windstream stock and $5 in cash for each share held. Windstream will also assume an estimated net debt of 171 million. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the D&E board's approval of the proposed merger. D&E generated $148 million in revenue and 64 million in operating income before depreciation and amortization in the 12 months ended March 31, 2009.
If you own shares of D&E and wish to discuss the legal ramifications of the proposed acquisition by Windstream, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Marc Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.