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Eschelon Telecom, Integra Holdings waiting period expires May 17
By Lisa Kerner
Charlotte, N.C., April 20 - Eschelon Telecom, Inc. and Integra Telecom Holdings, Inc. said they filed the required notification and report forms with the Federal Trade Commission and the Department of Justice on April 17 under the companies' March 20 definitive merger agreement.
The 30-day waiting period under the Hart-Scott-Rodino act expires on May 17, according to a company news release.
Integra will acquire Eschelon for $30.00 per share, or a total purchase price of $710 million, including repayment of $144 million in Eschelon debt.
The transaction is expected to close during the third quarter of 2007.
Both companies' boards of directors have approved the agreement, which includes a $16.77 million termination fee.
Following the closing, expected in the third quarter of 2007, Eschelon will cease being publicly held and will operate under Integra Telecom, a privately held integrated communications provider based n Portland, Ore.
Eschelon, located in Minneapolis, provides integrated communications services to small- and medium-sized businesses in the western United States.
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