Warning - completely uninformed opinion follows -
On the surface, this looks pretty crummy for the long term - Consolidated has a lesser dividend and lesser value for its stock, which I assume us Surewest holders will end up with. Short term, sure, the value is up tremendously today, but I don't see how this shakes out well for us a year down the road.
Unfortunately, we are holding this in an account that we cannot interact with for really stupid reasons, so we cannot sell today. I would be selling right now, otherwise.