Crown Castle Buys Global Signal for $4 Billion in Cash and Stock
Cellphone tower company Crown Castle International Corp. said Friday it completed its $4 billion acquisition smaller rival Global Signal Inc.
Including Global Signal's debt of about $1.8 billion, the transaction is valued at $5.8 billion.
Each Global Signal share will be exchange for $8.16 in cash and about 1.375 shares of Crown Castle common stock.
Crown Castle issued about 98.1 million shares in connection with the merger. Including these shares, Crown Castle has about 300.2 million common shares outstanding, of which about nearly one-third are owned by former Global Signal stockholders.
Global Signal shares will cease trading Friday and will be delisted from the New York Stock Exchange.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment