Japan's Largest Phone Co. To Buy IT Firm For $3.2B

Law360, New York (July 15, 2010, 2:06 PM EDT) -- Nippon Telegraph and Telephone Corp., the largest telephone and Internet company in Japan, said Thursday it had agreed to purchase information technology infrastructure company Dimension Data in an all-cash offer valued at £2.1 billion ($3.2 billion).

The offer represents an 18 percent premium over the closing price of U.K.-based Dimension Data shares on Wednesday, a 30 percent premium over the company's six-month average share price and a 50 percent premium over the average share price for the past year.

“NTT’s network carrier capabilities and assets coupled...
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