Amtelecom boosts People's offer again

AYLMER and FOREST, Ont. – Thanks to a persistent and still unnamed third party Amtelecom has increased its offer yet again to buy People’s Communications of Forest, Ont. Amtelecom has increased its offer to $55 in cash for each share (from $54, and the initial offer of $50) of People's and will permit People's to pay a cash dividend of up to $0.60 per share to People's shareholders. The board of People's has again re-affirms its unanimous approval of the transaction. The acquisition continues to be accretive to Amtelecom's cash available for distribution, said Amtelecom, which is an income trust....