Source: The Business Journals: Birmingham Business Journal

Otelco: Private equity firm to acquire Otelco

One of metro Birmingham's publicly traded companies is being acquired. Otelco (Nasdaq: OTEL), an Oneonta-based telecommunications company, is being purchased by Oak Hill Capital for $11.75 per share in cash, which represents an equity purchase price of $40.6 million and an enterprise value of $105.6 million. As part of the purchase, Oak Hill will assume or refinance Otelco's outstanding debt. According to a release, the consideration represents a 43.3% premium to the unaffected share price...

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Richard A. Clark's photo - President & CEO of Otelco

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Richard A. Clark

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OTELCO is a telecommunication company that provides voice and data connectivity solutions for individuals and businesses. Read more