Embarq, CenturyTel merger continues through regulatory approval process

By Lisa Kerner

Charlotte, N.C., Jan. 16 - Embarq Corp. said it has filed all state transfer applications and notifications with the relevant state commissions in the company's proposed merger with CenturyTel, Inc.

A number of state commissions have established procedural schedules for approval and made additional requests for information, according to a form 8-K filed with the Securities and Exchange Commission.

Embarq said three parties made public comments to the Federal Communications Commission regarding the merger. Reply comments are due Jan. 23, the filing said.

The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger, it was announced in November.

Shareholders of CenturyTel and Embarq will vote on the proposed merger at separate meetings on Jan. 27.

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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