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Jessica Sabbath// May 24, 2017//
Lumos Networks Corp. announced Wednesday that the company’s stockholders have approved its acquisition by EQT Infrastructure.
More than 99 percent of the shares voted at the meeting were voted in favor of the merger, representing approximately 81 percent of Lumos Networks’ outstanding shares as of the record date for the meeting.
The transaction remains subject to customary closing conditions, including regulatory approvals. The merger is expected to be completed during the third quarter of 2017.
As previously announced, under the terms of the merger agreement, EQT Infrastructure will acquire all of Waynesboro-based Lumos Networks’ common stock. Lumos Networks stockholders of record will receive $18 per share in cash of common stock.
Lumos Networks is a fiber-based service provider in the mid-Atlantic region, serving customers with end-to-end connectivity in 26 markets throughout Virginia, West Virginia, North Carolina, Pennsylvania, Maryland, Ohio and Kentucky.
