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Zayo buys FiberNet for $90.7 million following shareholder approval
By Lisa Kerner
Charlotte, N.C., Sept. 9 - Zayo Group, LLC completed its acquisition of FiberNet Telecom Group, Inc. after FiberNet shareholders approved the merger deal at a special meeting on Wednesday.
Under the companies' merger agreement, FiberNet shareholders will receive $11.45 per FiberNet share held.
The transaction is valued at about $90.7 million, FiberNet said.
FiberNet's stock has ceased trading on the Nasdaq Stock Market.
New York-based FiberNet provides interconnection services enabling the exchange of voice, video and data traffic between networks.
Zayo Group is a regional provider of bandwidth and telecom services to carrier, enterprise and government customers. The company is located in Louisville, Colo.
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