SouthernNet Inc, Atlanta, now has definitive agreement for its merger with Teleconnect Co, Cedar Rapids, Iowa (CI No 986): the merger will be a very simple one with shares in each company exchanged on a one-for-one basis for shares in a new, as yet unnamed, holding company, with no cash changing hands: SouthernNet holders will […]
SouthernNet Inc, Atlanta, now has definitive agreement for its merger with Teleconnect Co, Cedar Rapids, Iowa (CI No 986): the merger will be a very simple one with shares in each company exchanged on a one-for-one basis for shares in a new, as yet unnamed, holding company, with no cash changing hands: SouthernNet holders will end up with 52%, Teleconnect 48%, of the new firm; posts will be shared equally.
