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On November 7, 2008, the two companies entered into an agreement under which AT&T will acquire Centennial. Under the terms of the merger agreement, Centennial stockholders will receive $8.50 per share in cash.
The acquisition was approved by Centennial's stockholders in February and remains subject to approval by the Department of Justice and Federal Communications Commission and other customary closing conditions.
AT&T is a communications holding company. Its subsidiaries and affiliates - AT&T operating companies - are providers of AT&T services in the United States and around the world.
Centennial Communications, based in Wall, NJ, is a provider of regional wireless and integrated communications services in the United States and Puerto Rico with approximately 1.1 million wireless subscribers and 683,300 access lines and equivalents.
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