Hector Communications Corporation Announces Completion of Merger Transaction
November 03 2006 - 4:06PM
PR Newswire (US)
HECTOR, Minn., Nov. 3 /PRNewswire-FirstCall/ -- Hector
Communications Corporation (AMEX:HCT) today announced the
completion of the cash out merger transaction by which it has been
acquired by Blue Earth Valley Communications, Inc., Arvig
Enterprises, Inc. and New Ulm Telecom, Inc. (OTC:NULM) (BULLETIN
BOARD: NULM) , three independent local exchange carriers operating
in Minnesota. Pursuant to the merger, shareholders of Hector
Communications Corporation immediately prior the effectiveness of
the merger are entitled to receive $36.40 per share in cash. Wells
Fargo Bank, N.A. will mail registered shareholders instructions on
tendering their shares in approximately three business days. Hector
Communications Corporation is a telecommunications holding company
which through its subsidiaries provides telecommunications services
in rural communities in Minnesota, Wisconsin and North Dakota. At
September 30, 2006, the Company served approximately 29,400
telephone access lines, 8,000 cable television subscribers and
11,300 internet customers, as well as having minority ownership
interests in many other telecommunications companies. DATASOURCE:
Hector Communications Corporation CONTACT: Curtis A. Sampson, or
Paul N. Hanson, Hector Communications Corporation, +1-320-848-6611
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