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Telecommunications infrastructure company, Tower owner Uniti (NASDAQ:UNIT), soared by 5.5% in after-hours trading following reports of discussions to merge with Windstream.
A stock-based deal is currently under negotiation, with indications that Uniti (UNIT) would maintain its public listing. The report, cited by Bloomberg and based on information from individuals knowledgeable about the matter, stressed that no formal agreement has been reached and discussions could conceivably conclude without reaching a deal.
Both Uniti and Windstream declined to provide comments to Bloomberg for further insight into the ongoing discussions.
Having a market capitalization of $1.2 billion, Uniti (UNIT) was once a part of Windstream, and currently looks forward to reporting Q4 results on Feb. 29.
