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Paetec, McLeodUSA set meeting date for merger vote
By Lisa Kerner
Charlotte, N.C., Dec. 21 - Paetec Holding Corp. and McLeodUSA Inc. will hold separate meetings of their stockholders on Jan. 30 to vote on the proposed merger of the two companies.
Paetec agreed to acquire McLeod in an all-stock merger valued at $557 million, including debt, it was previously reported.
The transaction is expected to close in the first quarter of 2008, according to a news release.
Paetec is a communication services company offering voice, data and internet protocol services. The company is based in Fairport, N.Y.
Privately held McLeodUSA provides managed IP-based communications services and traditional circuit-switched telephony services. The company is located in Cedar Rapids, Iowa.
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