Gabelli Letter Highlights TDS Offer for Array Shares
The fund cited TDS’s non-binding plan to acquire the Array shares it does not already own, offering 0.86 TDS shares per share.
Gabelli Value 25 Fund included Telephone and Data Systems (TDS) in its second-quarter 2026 investor letter. The letter cited TDS’s non-binding proposal to acquire the Array Digital Infrastructure shares it does not already own.
TDS, which owns 82% of Array, submitted the proposal to Array’s board in May 2026. It offered 0.86 TDS shares for each Array share. Array is the fifth-largest wireless tower operator in the United States, with more than 4,450 sites.
The letter described TDS as a telecommunications company focused mainly on rural wireline and wireless tower operations. It listed TDS as a 1.3% position in the fund. Gabelli said weakness in telecommunications holdings weighed on the fund’s returns in the quarter.
As of 16:42 UTC on Sept. 30, TDS traded at $34.12, down 0.12% since the previous close. The shares had closed at about $34.16 on Sept. 29, according to the article.
This article was produced with the help of AI technology.
Source: Yahoo Finance
