Zayo, FiberNet Deal Back On Track
The acquisition of New York-based FiberNet Telecom Group by Louisville, Colorado-based Zayo Group is back on, after a competing offer from RCN Corporation was withdrawn Thursday. FiberNet Telecom said yesterday that it is continuing to proceed on its sale to Zayo Group for $11.45 per share in cash, after RCN withdrew a competing, $12.50 per share offer for the provider of colocation and telecom services. Reason for the withdrawal by RCN was not given. Zayo originally made its offer for FiberNet in May.
posted on Friday, July 10, 2009
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