Bell Aliant to bid $119 million for cableco/telco Amtelecom

HALIFAX and AYLMER, Ont. - Bell Aliant said today it is preparing to make a take-over bid for Amtelecom Income Fund, an independent telephone and cable company serving portions of southwestern Ontario. Bell Aliant Regional Communications Income Fund said this morning it will bid $13 cash per Amtelecom unit, making the total acquisition cost, including assumed debt of Amtelecom, approximately $119 million. The offer represents a premium of approximately 16.7% over the volume weighted average trading price of Amtelecom Units for the previous 20 trading days and a premium of approximately 15.6% over the closing price of Amtelecom Units on Thursday,...