TDS Withdraws Array Acquisition Proposal, Plans Share Repurchases

Corporate Action
โดย PR Newswire·US·Read original
Summary · why it matters

Telephone and Data Systems, Inc. (TDS) announced it is no longer pursuing the acquisition of the public shares of Array Digital Infrastructure, Inc. that it does not already own, withdrawing its proposal to exchange each Array share for 0.86 of a TDS share. TDS will retain its approximately 82% ownership in Array, and both companies intend to increase efforts to monetize Array's remaining wireless spectrum assets. With the withdrawal, TDS expects to recommence repurchases under its share repurchase programs, including the additional $500 million authorization announced in November 2025, with approximately $523.9 million remaining available as of June 30, 2026. TDS President and CEO Walter Carlson cited the inability to agree on the form of consideration and value as the reason for the decision.

Impact on stocks 3

Cloud & Digital Infrastructure▲ · 2 stocks
Telephone and Data Systems Inc
TDS
▲ PositiveCapitalrelevance

TDS withdrew the Array acquisition proposal and will recommence share repurchases under its programs, including the $500M authorization.

Array Digital Infrastructure, Inc.
AD
± MixedCapitalrelevance

TDS withdrew its proposal to acquire Array's remaining public shares, leaving Array ~82% owned by TDS and refocusing on monetizing its spectrum assets.

Spatial Computing / AR/VR▲ · 1 stocks
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