Amtelecom persistently pursues People's

AYLMER and FOREST, Ont. – Who knew a 5,200-customer telco in rural Ontario would be so popular and ignite a bidding war? Wednesday, Amtelecom was forced to yet again raise its bid (for the fourth time) for People’s Communications of Forest Ont., to $56 a share. It’s original offer, made well before Christmas, was for $50 a share. Amtelecom’s release says the reason for it is an unnamed third party which keeps upping the ante. Amtelecom CEO Michael Andrews declined to comment or indicate how far Amtelecom would be willing to go to purchase People’s. People’s board is still in...