TDS Looking to Fully Acquire Array in All-Stock Deal

WASHINGTON, May 8, 2026 – TDS is looking to fully acquire Array Digital Infrastructure, the company announced Friday.

TDS already owns about 82 percent of Array. Under TDS’s proposal, the company would exchange 0.86 shares of TDS stock for each Array share the company doesn’t already own.

Anthony Carlson, Array’s CEO, said on TDS’s earnings call that Array’s board has retained independent advisors to “carefully evaluate the proposal and make a recommendation as to what is in the best interest of Array's shareholders.” He said the company would provide updates in the future but, like TDS, wouldn’t comment further.