The ISP and telco Windstream has completed its US$2.3bn acquisition of PAETEC Holding Corp, which provides telephone and broadband services through its services.
In a statement, Windstream said that PAETEC shareholders had received 0.46 shares in…
The ISP and telco Windstream has completed its US$2.3bn acquisition of PAETEC Holding Corp, which provides telephone and broadband services through its services.
In a statement, Windstream said that PAETEC shareholders had received 0.46 shares in Windstream for each PAETEC share that they held at closing.
Windstream said it had issued shares and assumed equity awards representing about 73.4m Windstream shares. This was valued at US$863m, which was based on the company’s closing stock price yesterday.
Windstream also said it had assumed PAETEC’s net debt of US$1.4bn.