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MATTOON, Ill. (AP) -- Internet and phone provider Consolidated Communications Holdings Inc. said Monday it has completed its acquisition of telecommunications company North Pittsburgh Systems Inc. for approximately $362.6 million. Consolidated will pay $25 per share cash to shareholders owning about 80 percent of North Pittsburgh stock, with the rest to be paid stock worth 1.1061947 Consolidated share for each North Pittsburgh share held. North Pittsburgh Systems, which provides phone and internet services in Pennsylvania, will operate under the Consolidated name. Consolidated said it plans to launch internet television in North Pittsburgh's area in the first quarter of 2008. Consolidates provides internet and phone services for rural communities in Texas, Illinois and Pennsylvania. Consolidated shares rose $1.08, or 5.7 percent, to close at $19.90. They have traded in the last year between $15.50 and $23.71. North Pittsburgh shareholders shares ended the session up 22 cents at $22.69.
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