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Hawaiian Telcom, Cincinnati Bell report merger election deadline

Hawaiian Telcom Holdco Inc. has until 5 p.m. ET on June 21 to elect the form of consideration it wishes to receive in connection with the company's proposed merger with Cincinnati Bell Inc.

Hawaiian Telcom stockholders have the option to receive either $30.75 in cash, 1.6305 common shares of Cincinnati Bell, or a mix of $18.45 in cash and 0.6522 common share of Cincinnati Bell as consideration for each share of Hawaiian Telcom common stock. Under the terms of the merger agreement, total consideration to be paid to Hawaiian Telcom stockholders will be 60% cash and 40% Cincinnati Bell common shares.

The closing of the merger is subject only to the receipt of regulatory approval from the Federal Communications Commission and the satisfaction of other customary closing conditions.

The Hawai'i Public Utilities Commission approved Cincinnati Bell's proposed acquisition of Hawaiian Telcom in May.