News & Events

Simpson Thacher is representing JP Morgan in its role as financial advisor to Iowa Telecommunications Services, Inc. (“Iowa Telecom”) in connection with Iowa Telecom’s acquisition by Windstream Corporation in a transaction valued at approximately $1.1 billion.  Under the terms of the agreement, Iowa Telecom shareholders will receive 0.804 of a share of Windstream stock and $7.90 in cash for each share of Iowa Telecom stock.  Windstream also will repay Iowa Telecom’s estimated net debt of approximately $598 million.  The transaction is expected to close in mid-2010, subject to certain conditions, including necessary approvals from federal and state regulators and Iowa Telecom shareholders. 

Iowa Telecom provides communications services to residential and business customers in Iowa and Minnesota.  Iowa Telecom has approximately 256,000 access lines, about 95,000 high-speed Internet customers and about 26,000 digital TV customers. 

The Simpson Thacher attorneys representing JP Morgan on this matter are Rob Spatt and Tom Lamprecht.