UPDATE: Bragg makes an offer for Amtelecom

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 the...