Windstream Buying D&E Communications

LITTLE ROCK, Ark. (AP) — The phone company Windstream Corp. says it has agreed to buy D&E Communications for $159 million in stock and cash in a deal that will double the size of its business in Pennsylvania.

Windstream said Monday the deal will give it an additional 165,000 access lines and 44,000 high-speed Internet customers.

In addition to paying the cash and shares, Little Rock, Arkansas-based Windstream would assume $171 million in debt from D&E, which is based in Ephrata, Pa.

Windstream, which has customers in 16 states, says the deal must be approved by D&E shareholders and regulators but is expected to close in the second half of 2009.