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Financial Advisor

Communications Sales & Leasing

$409 Million 05/02/2016 Telecommunications Complete
Public Companies
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Transaction Details

  • Communications Sales & Leasing, Inc. (“CSAL”) and PEG Bandwidth LLC (“PEG") announced a definitive agreement under which CSAL will acquire the outstanding equity interests of PEG for total transaction consideration of $409 million, subject to adjustment
  • PEG shareholders will receive $315 million in cash, one million shares of CSAL stock and 87,500 shares of CSAL’s 3% Series A Convertible Preferred Stock
  • CSAL intends to fund the cash portion of the transaction through cash on hand and borrowings under its revolving credit facility
  • PEG is a leading provider of infrastructure solutions including cell site backhaul and dark fiber for telecom carriers and enterprises
  • PEG’s fiber network consists of over 300,000 strand miles in the Northeast / Mid Atlantic, Illinois and South Central regions of the U.S.
  • The transaction is expected to close in early 2016 and is subject to regulatory approval as well as other customary terms and conditions
  • Stephens Inc. served as financial advisor to CSAL
Source: Press release, Company website and publicly available information.
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