AboveNet Announces Stockholder Approval of Merger Agreement with Zayo Group
(Thomson Reuters ONE) -
WHITE PLAINS, NY, June 5, 2012 - AboveNet, Inc. (NYSE: ABVT) announced today
that at its special meeting of stockholders held on June 5, 2012, its
stockholders approved the proposal to adopt the merger agreement, dated as of
March 18, 2012, by and among AboveNet, Zayo Group, LLC and Voila Sub, Inc., a
wholly owned subsidiary of Zayo Group, providing for the acquisition of AboveNet
by Zayo Group.
Approximately 82.7% of the shares of AboveNet common stock issued and
outstanding as of the close of business on April 30, 2012, the record date for
the special meeting, were voted at the special meeting. Of the shares voted at
the special meeting, approximately 99.7% were voted in favor of the proposal to
adopt the merger agreement, representing approximately 82.5% of the total number
of shares of AboveNet common stock issued and outstanding as of the record date.
The consummation of the acquisition of AboveNet by Zayo Group is subject to the
receipt of required regulatory approvals as well as the satisfaction of other
customary closing conditions as set forth in the merger agreement and discussed
in AboveNet's definitive proxy statement filed with the Securities and Exchange
Commission on May 3, 2012. AboveNet continues to expect that the transaction
will close in mid-2012.
About AboveNet
AboveNet, Inc. is a leading provider of high bandwidth connectivity solutions
for businesses and carriers. Its private optical network delivers key network
and IP services in and among top U.S. and European markets. AboveNet's network
is widely used in demanding markets such as financial and legal services, media,
health care, retail and government.
About Zayo
Based in Louisville, Colo., privately owned Zayo Group (www.zayo.com) is a
national provider of fiber-based Bandwidth Infrastructure and network-neutral
colocation and interconnection services. Zayo serves wireline and wireless
carriers, data centers, Internet content and services companies, high bandwidth
enterprises as well as federal, state and local government agencies. Zayo
provides these services over regional, metro and fiber-to-the-tower networks.
Zayo's network assets include approximately 45,700 route miles, covering 42
states plus Washington, D.C. Additionally, Zayo has approximately 5,400
buildings onnet, 440 Points-of-Presence (POPs), 2,300 cell towers on-net, and
over 93,000 billable square feet of colocation space. In March 2012, Zayo
announced its intent to acquire AboveNet, a leading provider of high bandwidth
connectivity solutions. Zayo was recently been named one of the Denver-area's
Fastest Growing Private Companies by the Denver Business Journal.
Statements made in this press release that are not historical in nature
constitute forward-looking statements within the meaning of the Safe Harbor
Provisions of the Private Securities Litigation Reform Act of 1995. AboveNet
cannot assure you that the future results expressed or implied by the forward-
looking statements will be achieved. Such statements are based on the current
expectations and beliefs of the management of AboveNet, Inc. and are subject to
a number of risks and uncertainties that could cause actual results to differ
materially from the future results expressed or implied by such forward-looking
statements. These risks and uncertainties include, but are not limited to, the
occurrence of any event, change or other circumstances that could give rise to
the termination of the merger agreement, the failure to satisfy the remaining
conditions to completion of the merger, including receipt of regulatory
approvals, industry competition, pricing and macro-economic conditions and
AboveNet's financial and operating prospects. AboveNet's business could be
materially adversely affected and the trading price of AboveNet's common stock
could decline if these risks and uncertainties develop into actual events.
AboveNet cautions you not to place undue reliance on these forward-looking
statements, which speak only as of their respective dates. AboveNet undertakes
no obligation to publicly update or revise forward-looking statements to reflect
events or circumstances after the date of this press release or to reflect the
occurrence of unanticipated events. A more detailed discussion of factors that
may affect AboveNet's business and future financial results is included in
AboveNet's SEC filings, including, but not limited to, those described in "Risk
Factors" and "Management's Discussion and Analysis of Financial Condition and
Results of Operations" in AboveNet's Annual Report on Form 10-K for the year
ended December 31, 2011 and subsequently filed Quarterly Report on Form 10-Q.
Company Contact:
AboveNet, Inc.
Jeffrey Garte
Vice President, Finance
914-421-6700
jgarte(at)above.net
For Zayo media inquiries, please contact:
Jaymie Scotto & Associates
pr(at)jaymiescotto.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: AboveNet Inc via Thomson Reuters ONE
[HUG#1617547]
Unternehmensinformation / Kurzprofil:
Datum: 05.06.2012 - 23:01 Uhr
Sprache: Deutsch
News-ID 153505
Anzahl Zeichen: 5923
contact information:
Town:
White Plains, New York
Kategorie:
Business News
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