Consolidated Communications (CNSL) News: Johnson Fistel Investigates Proposed Sale; Is $4.70 a Fair Price?


SAN DIEGO, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Consolidated Communications (NASDAQ: CNSL) breached their fiduciary duties in connection with the proposed sale of the Company to affiliates of Searchlight Capital Partners and British Columbia Investment Management.

On October 16, 2023, Consolidated Communications announced that it had entered a deal with Searchlight Capital Partners and British Columbia Investment Management. Under the terms of this agreement, shareholders will receive $4.70 per share in an all-cash offer.

The investigation concerns whether the Consolidated Communications board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Consolidated Communications shares of common stock.

You can click or copy and paste the following link to join this investigation:

https://www.johnsonfistel.com/investigations/consolidated-communications

If you are a shareholder of Consolidated Communications and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

Johnson Fistel, LLP is a shareholder rights law firm representing individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information, visit their website http://www.johnsonfistel.com.

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