Amtelecom board recommends Bragg takeover offer

AYLMER, Ont. – The Amtelecom Income Fund Board of Trustees has unanimously recommended to unitholders that they approve an all-cash takeover offer from EastLink owner Bragg Communications. In a joint statement Tuesday, Amtelecom and Bragg announced that the takeover bid and circular relating to Bragg’s offer to acquire all of the outstanding units of Amtelecom, and the trustees’ circular reflecting Amtelecom’s Board recommendation, have been mailed to Amtelecom unitholders. The offer was made in accordance with the parties’ previously announced support agreement at an offer price of $14.25 per unit. The all-cash consideration under the Bragg offer represents a 26.7%...