Telephone and Data Systems Announces It Is No Longer Pursuing the Acquisition of Public Shares of Array Digital Infrastructure
Telephone and Data Systems (TDS) announced it is no longer pursuing the acquisition of the public shares of Array Digital Infrastructure (AD) that it does not already own, and has withdrawn its previously announced proposal. TDS expects to recommence its share repurchase program.
Why it matters — AD watchers would care because the withdrawal removes a potential takeover bid that could have affected Array's ownership and share structure.