FILE PHOTO: A splice can that contains 432 fiber cables is pictured in Oldham county, Louisville, Kentucky, U.S., April 19, 2021. REUTERS/Amira Karaoud/File Photo
NEW YORK (Reuters) - Wildcat Capital Management, a top shareholder in Consolidated Communications Holdings, said on Friday it plans to vote against its $3.1 billion takeover by an investor consortium, as it undervalues the broadband services provider.
Wildcat, which owns about 3 million shares and is the fifth-largest shareholder in Consolidated Communications, said in a letter to the Mattoon, Illinois-based company's board that it believes a value of at least $4 billion, including debt, would be meritied. This would represent a nearly 30% premium to the deal price of $4.70 per share.
