AboveNet Goes Private, Lures PE Backers In $2.2B Deal

Law360, New York (March 19, 2012, 7:36 PM EDT) -- AboveNet Inc., an operator of fiber optics networks, has agreed to be taken private by Zayo Group LLC in a $2.2 billion deal that includes equity stakes by buyout firms GTCR LLC and Charlesbank Capital Partners LLC, the company said Monday.

The $84 per-share deal represents a 13 percent premium on New York-based AboveNet's Friday close and a 21 percent premium over its two-month average. It is the 18th acquisition since 2008 for Zayo, which has built a network of high-capacity cables in 42 states....
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