HALIFAX – Bragg Communications and Amtelecom Income Fund said Friday that more than 90% of the outstanding units of the fund have been tendered to Bragg Communications’ $104 million offer.
"Provided the minimum condition is maintained, Bragg Communications intends to take-up and pay for all of the units tendered and to proceed with a subsequent transaction to acquire the remaining outstanding units at the $14.25 bid price on June 1, 2007," says the press release.
www.eastlink.ca www.amtelecom.ca
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HALIFAX – If you thought Bragg Communications, parent company of EastLink, was content with being the dominant cable operator in Nova Scotia and Prince Edward Island – not to mention a painful, persistent competitive thorn in Bell Aliant’s side, you’d be wrong.
On Friday, Bragg more than doubled its size by announcing it has signed a purchase agreement with Persona Communications. The combined company – when you add in its impending purchase of Amtelecom – will have close to half a million basic cable subscribers (260,000 from Persona added to EastLink’s approximate 230,000).
The agreement to purchase the shares…
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HALIFAX – Turns out Bragg Communications’ deal to buy Amtelecom was only the beginning after all.
Today, Bragg Communications, owners of eastern telco EastLink, announced that is has signed a purchase agreement to purchase Persona Communications. Terms of the deal were not disclosed.
With more than 260,000 customers, Persona provides communications services to customers throughout British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec and Newfoundland & Labrador.
Together, the companies will have over 500,000 customers spread from Newfoundland and Nova Scotia, into Ontario and west to Delta, B.C.
"This purchase represents an opportunity to significantly grow our business, to…
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HALIFAX – It appears that Bragg Communications, owners of eastern cableco EastLink will take Amtelecom as Bell Aliant allowed its bid for the midwestern Ontario telephone and cable company to expire on Wednesday afternoon.
Bragg offered approximately $104 million, or $14.25 per unit for Amtelecom Income Fund on April 3rd. It was about 10% above what Bell Aliant offered for the company back in February – an offer that was spurned by Amtelecom`s board.
Bragg`s bid still has to be formally approved by shareholders and regulators, but Amtelecom`s board has already given its stamp of approval.
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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…
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THANK YOU TO ALL those who completed the Cartt.ca readership survey last week.
We will use the data to improve the quality of the news, features, opinions and analysis you receive on a daily basis from Cartt.ca and we’re grateful such a large proportion of readers took time out of their day to complete the survey.
Thanks also to Solutions Research Group which ran the survey for us.
As for the winner of the draw for the 30GB iPod Video, it was Paula Sibley, communications specialist at east coast cable and telecom company EastLink.
Thanks again to all who…
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AYLMER, Ont. – Bragg Communications, owner of eastern cableco EastLink has made an offer to purchase Amtelecom Income Fund, the two companies announced this morning.
Bragg "announced today that they have entered into a definitive support agreement pursuant to which Bragg Communications will offer to acquire all of the outstanding units of Amtelecom by way of a take-over bid for $14.25 in cash per unit," says the press release.
The bid values Amtelecom at close to $104 million.
"The offer represents a 26.7% premium over the closing price of the units on February 15, 2007 (the day prior to…
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AYLMER, Ont. – Bragg Communications, owner of eastern cableco EastLink has made an offer to purchase Amtelecom Income Fund, the two companies announced this morning.
Bragg "announced today that they have entered into a definitive support agreement pursuant to which Bragg Communications will offer to acquire all of the outstanding units of Amtelecom by way of a take-over bid for $14.25 in cash per unit," says the press release.
"The offer represents a 26.7% premium over the closing price of the units on February 15, 2007 (the day prior to the announcement by Bell Aliant Regional Communications Income Fund…
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HALIFAX – Independent cable company EastLink and the Halifax & Region Military Family Resource Centre (MFRC) have joined together – with support from the Canadian Forces – to ensure that military personnel from this region are connected to family and friends while serving overseas.
Through this multi-year partnership, EastLink has provided a 10-Mega bit Internet service which will allow the MFRC to provide face-to-face communication between deployed personnel and their loved ones via a new video tele-conferencing service.
A live demonstration of the technology was provided yesterday at the official launch of the VTC service.
“We are thankful to…
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OTTAWA – The CRTC has launched a public proceeding to set out rules regarding the installation of a network interconnection device (NID) when the incumbent local exchange carrier’s (ILEC) network is disconnected from the inside wire at the home of a residential customer who has elected to take a cable telephone service and no longer wishes to use any services provided on the ILEC’s network (Telecom Public Notice 2007-3).
The commission is asking for comment on whether a NID should be installed at the premises of a residential customer when no such device is present; should the cableco or…
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