Lumos Networks has agreed to its acquisition by EQT Infrastructure investment for USD 18.00 per share, with the total enterprise valued at USD 950 million. The price is a premium of 18.2 percent to the closing price on 17 February. Under the terms of the agreement, EQT Infrastructure will acquire all of the shares of Lumos.
The transaction has been approved by all members of the board of directors. Completion is still subject to shareholder approval, regulatory approval and other customary closing conditions. The acquisition is expected to close during the third quarter.
