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Article: Eschelon Telecom, Inc. Announces Completion of Acquisition by Integra Telecom, Inc.
- Article from:
- Business Wire
- Article date:
- August 31, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MINNEAPOLIS -- Eschelon Telecom, Inc. today announced the completion of its merger with a wholly-owned subsidiary of Integra Telecom, Inc. Under the terms of the merger agreement, holders of Eschelon's common stock shall receive $30.00 per share in cash. As a result of this transaction, Eschelon's common stock will no longer trade on the NASDAQ Global Market. The combination yields one of the largest competitive local exchange carriers in the nation.
Integra financed the total purchase price of approximately $710 million, including the repayment of approximately $144 million of the Company's debt, through approximately $1.2 billion in new capital. The new capital ...