CNSL - Consolidated Communications jumps 18% as Searchlight weighs acquisition

Consolidated Communications (NASDAQ:CNSL) is bouncing back Tuesday, up 17.6%, as Searchlight Capital Partners considers a further buy-in to the company - including the prospect of a full acquisition. An amended SEC filing from Searchlight says it intends to consider making open-market purchases of Consolidated stock - and it will "evaluate the possibility of a further investment in or full acquisition" of the company. Searchlight has an existing 34.6% stake. Volume in Consolidated is running about 57% ahead of daily average, with some 616,000 shares having changed hands so far. Meanwhile, Consolidated stock had dropped 9.4% on Monday, part of a decline of nearly 36% since the company reported a slight dip in revenues for its fourth-quarter earnings. (See CNSL's one-month chart vs. the market here.)

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Consolidated Communications jumps 18% as Searchlight weighs acquisition