Mergers and Acquistions News
Categories: Telecoms
May 29th 2009, 15:39PM
Broadband provider FiberNet Telecom Group has announced that it has entered into a definitive merger agreement with Zayo Group, a regional provider of telecom services.
Each share of FiberNet common stock will be bought by Zayo for $11.45 (£7.09) in cash, subject to potential adjustment, in a deal valued at $87.8 million (£54.5 million) based on 7.67 million outstanding shares of FiberNet.
The transaction, which is expected to be completed during the third quarter of 2009, is still subject to the approval of FiberNet's stockholders and the company says it will solicit superior proposals from third parties until June 17th.
FiberNet, established in May 1999, recently celebrated its tenth anniversary of offering interconnection services for the exchange of voice, video and data traffic between multiple global networks.
Speaking at the time of the anniversary, president and chief executive officer Jon A DeLuca said: "I would like to thank all of the contributors to our success, including our customers, vendors, employees and investors."
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)
- May 2011 (20)
- April 2011 (18)
- March 2011 (21)