Consolidated communications announces receipt of “take private” proposal from searchlight capital and british columbia investment management

Mattoon, ill.--(business wire)--consolidated communications (nasdaq: cnsl) (“consolidated” or the “company”) today announced that its board of directors (the “board”) received a non-binding proposal letter, dated april 12, 2023, from searchlight capital partners, l.p. (together with its affiliated investment funds, “searchlight”) and british columbia investment management corporation (“bci” and together with searchlight, the “searchlight group”), to acquire all of the outstanding common shares of consolidated not already owned by the searchlight group for cash consideration of $4.00 per share.
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