Integra Telecom acquisition of Eschelon expected to close Aug. 31

By Lisa Kerner

Charlotte, N.C., July 18 - Integra Telecom Inc. and Eschelon Telecom, Inc. expect the planned transaction between the two companies to close on Aug. 31, according to a news release.

As previously reported, on March 20 Integra announced a definitive agreement to acquire Eschelon for $30 per share, or a total purchase price of $710 million, including repayment of some $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, Eschelon will no longer be 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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