Paul Hastings Represents FairPoint Communications, Inc. in $1.5 Billion Acquisition by Consolidated Communications
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.
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