Cable one, inc. (nyse:cabo) completed the acquisition of data, video and voice business and related assets of fidelity communications co., inc.
Cable one, inc. (nyse:cabo) entered into a definitive agreement to acquire data, video and voice business and related assets of fidelity communications co., inc. for approximately $530 million on march 31, 2019. under the terms of the agreement, cable one will pay the purchase price in cash, subject to customary post-closing adjustments. at closing, cable one shall deposit $5 million (the “purchase price adjustment escrow amount”) into the purchase price adjustment escrow account. cable one to finance the transaction through a combination of cash on hand, revolving credit facility capacity; the proceeds of new indebtedness of $350 million senior secured revolving credit facility, a new $250 million senior secured term loan a facility, a new $450 million senior secured delayed draw term loan a facility; together with an amount of $325 million (“term loan b-3”). the closing of the transaction is subject to the receipt of certain regulatory approvals including fcc, puc and lfa approvals; and other customary closing conditions. as of may 17, 2019 federal trade commission approved the early termination of antitrust approval waiting period. the transaction is expected to be completed during the fourth quarter of 2019. jenny hochenberg, joseph d. zavaglia, matthew l. ploszek, eli d. heller, lauren angelilli, peter w. rogers, jennifer s. conway, christopher c. gonnella, matthew morreale, anthony n. magistrale, brian m. budnick, jesse m. weiss and douglas c. dolan of cravath, swaine & moore llp acted as legal advisor to cable one. phillip r. stanton of greensfelder, hemker & gale, p.c. acted as legal advisor to fidelity communications. jeff brandon of stifel financial corp. acted as financial advisor to fidelity communications co., inc.
cable one, inc. (nyse:cabo) completed the acquisition of data, video and voice business and related assets of fidelity communications co., inc. on october 1, 2019.
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