Skadden Reps Windstream In $2.3B Paetec Network Deal

Law360, New York (August 1, 2011, 11:59 AM EDT) -- Windstream Corp. said Monday it planned to buy fellow broadband and business network services provider Paetec Holding Corp. for $2.3 billion, a tie-up that would create a national player with $6 billion in yearly revenue.

The Little Rock, Ark.-based buyer said Fairport, N.Y.-based Paetec's shareholders would receive .46 Windstream shares for each share they currently own in an exchange of stock valued at about $900 million. Windstream also will assume about $1.4 billion in the target company’s debt.

The deal is a relatively large one in...
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