Eschelon, Integra clear hurdles in proposed merger; closing expected in the third quarter

By Lisa Kerner

Charlotte, N.C., May 24 - The Hart-Scott-Rodino waiting period has expired in the proposed merger of Eschelon Telecom, Inc. and Integra Telecom Holdings, Inc., according to a news release.

In addition, the Federal Communications Commission has authorized the transfer of control of both Eschelon's domestic and international communications operations to Integra.

Integra will acquire Eschelon for $30 per share, or a total purchase price of $710 million, including repayment of $144 million in Eschelon debt.

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, a privately held integrated communications provider based in 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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