12:28 PM EST - Otelco Inc. : announced that it has entered into a Stock Purchase Agreement with Country Road Communications LLC. to acquire 100% of the outstanding capital stock of Pine Tree Holdings Inc., Granby Holdings Inc. and War Holdings Inc. from Country Road. The consideration for the purchase is $101.33 million, payable in cash at closing, subject to adjustments as provided in the Agreement. The transaction is expected to close in the fourth quarter of 2008. Otelco Inc.
units T.OTT.UN are trading unchanged at $15.50.
