Lumos Networks Corp. (NASDAQ: LMOS) stockholders have approved the merger agreement with EQT Infrastructure investment strategy (“EQT Infrastructure”), the company said.
More than 99% of the shares voted at the meeting were voted in favor of the merger, representing approximately 81% of Lumos Networks´ outstanding shares as of the record date for the meeting.
The transaction remains subject to customary closing conditions, including regulatory approvals, and is expected to be completed during the third quarter of 2017.
As previously announced, under the terms of the merger agreement, EQT Infrastructure will acquire all of Lumos Networks´ common stock. Lumos Networks stockholders of record will receive USD 18.00 in cash per share of Lumos Networks´ common stock.
Lumos Networks is a fiber-based service provider in the Mid-Atlantic region serving Carrier, Enterprise and Data Center customers, offering end-to-end connectivity in 26 markets in Virginia, West Virginia, North Carolina, Pennsylvania, Maryland, Ohio and Kentucky. With a fiber network of 10,907 fiber route miles and 503,616 total fiber strand miles, Lumos Networks connects 1,306 unique Fiber to the Cell sites, 1,663 total FTTC connections, 2,125 on-net buildings and over 3,400 total on-net locations.