Telephone and Data Systems, Inc. (TDS) announced on September 1, 2026, that it is withdrawing its proposal to acquire the remaining public shares of Array Digital Infrastructure, Inc. The company stated that despite extensive review, it was unable to reach an agreement on the form of consideration and value for the transaction.
Under the terms of the withdrawn proposal, each Array Common Share not owned by TDS would have been exchanged for 0.86 of a TDS Common Share. TDS currently holds an approximately 82% ownership interest in Array. The company remains confident in Array’s business and long-term prospects and intends to support Array’s continued success as a leading owner and operator of wireless communications infrastructure.
TDS and Array plan to increase their efforts to pursue opportunities to monetize Array’s remaining wireless spectrum assets in the near term. With the withdrawal of the proposal, TDS expects to recommence repurchases of its Common Shares under previously announced programs, including an additional $500 million authorization announced in November 2025. As of June 30, 2026, approximately $523.9 million remained available under these share repurchase programs.
