AT&T Inc. (T) announced that it has completed its acquisition of Centennial Communications Corp. (CYCL). The acquisition enhances AT&T's network coverage across the Midwest and Southeast United States and in Puerto Rico and the U.S. Virgin Islands.
AT&T expects upfront integration costs will result in minimal dilution to EPS and cash flow in 2009. As previously announced, Centennial stockholders will receive $8.50 per share in cash.
AT&T plans to integrate Centennial's networks and products with AT&T's networks and product portfolio. The transaction extends AT&T's wireless network coverage in primarily rural areas of Indiana, Louisiana, Michigan, Ohio and Texas as well as enhances coverage in Puerto Rico and the U.S. Virgin Islands.
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