Zayo just cleared yet another hurdle in acquiring fiber provider AboveNet (NYSE: ABVT) as that service provider's shareholders approved the deal.
During a June 5 special meeting, AboveNet's shareholders voted on about 82.7 percent of the service provider's common stock issued and outstanding as of the close of business on April 30, 2012.
About 99.7 percent of the share votes at the special meeting were in favor of the proposal to adopt the merger agreement, a figure that represented almost 82.5 percent of the total number of shares of AboveNet common stock issued and outstanding as of the record date.
Once the acquisition gets necessary regulatory approvals and other closing conditions set in AboveNet's proxy statement filed May 3 with the Securities and Exchange Commission (SEC), the two companies expect the purchase to be completed by the middle of this year.
Although Zayo's AboveNet deal has not closed yet, its acquisition appetite continues to remain strong. Just this week, the service provider also struck a deal to acquire regional dark fiber provider FiberGate to bolster its DC metro capabilities.
- see the release
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