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Hedge Fund Successfully Pressures FairPoint Communications to Sell Itself ·
An activist group of shareholders led by a hedge fund has successfully pressured executives at FairPoint Communications to sell the company to maximize shareholder value. The buyer, Illinois-based Consolidated Communications Holdings, Inc., said on Monday it would acquire FairPoint in an all-stock deal worth $1.5 billion, debt included. The buyout will enrich certain shareholders and hedge …