CenturyTel, Embarq shareholders to decide merger Jan. 27

By Lisa Kerner

Charlotte, N.C., Dec. 22 - Shareholders of CenturyTel, Inc. and Embarq Corp. will vote on a merger of the two companies at separate meetings on Jan. 27.

CenturyTel shareholders will meet at 11 a.m. ET to vote on a proposal to approve the issuance of CenturyTel common stock in connection with the proposed merger.

Embarq said its shareholders will be asked to approve the merger agreement at their meeting, also at 11 a.m. ET.

Record date for both meetings is Dec. 17, according to a 424B3 filing with the Securities and Exchange Commission.

Under the companies' Oct. 26 merger agreement, Embarq shareholders will receive 1.37 CenturyTel shares, valued at about $40.42, for each share of Embarq common stock they own.

The tax-free, stock-for-stock transaction is valued at about $5.8 billion, it was previously reported.

CenturyTel, based in Monroe, La., provides communications, high-speed internet and entertainment services in small-to-mid-size cities through its broadband and fiber transport networks.

Embarq provides local and long distance voice, data, high-speed internet, satellite video, wireless and other communications-related products and services to consumer and business customers in the United States. The company is located in Overland Park, Kan.

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