SureWest Shares Surge In Pre-Market On Acquisition News

Consolidated Communications Holdings Inc

announced its plans to acquire SureWest Communications

for $23.00 per share, or a total of around $340.9 million, excluding debt. The offer price represents a 47% premium to SureWest's stock price as of the close on February 3. SURW shares gained 9.11% to $17.01 in pre-market trading, while CNSL shares gained 0.68% to close at $19.25 on Friday.