India, May 3 -- Uniti Group Inc. (UNIT), a real estate investment trust, announced on Friday that it inked a deal to merge with Windstream Holdings II, LLC.
Under the terms, Windstream shareholders will receive $425 million in cash, $575 million of preferred equity, and around 38 percent of the combined company.
Post-merger, Windstream shareholders will additionally receive non-voting warrants to acquire up to 6.9 percent of shares.
Uniti expects to fund the $425 million of cash consideration from operations, debt or future capital markets transactions.
Post transaction, Uniti shareholders will own around 62 percent and Windstream shareholders approximately 38 percent of the combined company.
Kenny Gunderman, CEO of Uniti said, "As a c...