CHICAGO-Telephone and Data Systems Inc. entered a definitive agreement to acquire the approximate 3.6 million outstanding shares in American Paging Inc. it doesn’t already own for more than $9 million, said Murray L. Swanson, executive vice president of finance for TDS.
TDS has agreed to pay $2.50 cash per share of common stock.
TDS’ offer was made in connection with a definitive agreement between TDS and TSR Paging Inc. to combine the business assets of American Paging and TSR, which requires TDS to acquire the American Paging stock prior to combining TSR and American Paging.
