New York – Paul Hastings, a leading global law firm, announced today that the firm is representing FairPoint Communications, Inc., a leading broadband communications provider, in an acquisition by Consolidated Communications Holdings Inc. In the all-stock transaction valued at $1.5 billion, including debt, FairPoint shareholders will receive a fixed exchange ratio of 0.7300 shares of Consolidated Communications common stock for each share of FairPoint common stock. In addition, approximately $900 million of FairPoint debt will be refinanced in connection with the acquisition.
At closing, which is expected in mid-2017, the combination of the two broadband communications providers will increase the fiber network of Consolidated Communications to more than 35,000 fiber route miles across 24 states.
The Paul Hastings team was led by M&A partners Elizabeth Noe and Scott Oross and Leveraged Finance partner Jeffrey Pellegrino, and included Corporate associates Marianna Faircloth and Jessica Paletsky.
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