UPDATE: Crown Castle (CCI) Tops Q2 EPS by 3c, Slight Beat on Revenues; Raises FY Outlook
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Crown Castle (CCI) Commences Offerings of $3.25B in Common Stock and $1.5B of Mandatory Convertible Preferred Stock
July 19, 2017 8:45 AM EDTCrown Castle International Corp. (NYSE: CCI) ("Crown Castle") announced today that it is commencing concurrent offerings of $3.25 billion of shares of its common stock and $1.5 billion of shares of its Mandatory Convertible Preferred Stock, Series A, each in a separate registered public offering, subject to market and other conditions. These offerings are being made by means of separate prospectus supplements and are not contingent on each other or upon the consummation of the recently announced transaction between LTS Group Holdings... More
Crown Castle (CCI) to Acquire Lightower from Berkshire Partners, Pamlico Capital & Other Investors for ~$7.1B
July 18, 2017 5:16 PM EDT(Updated - July 18, 2017 5:19 PM EDT)
Crown Castle International Corp. (NYSE: CCI) announced today that it has entered into a definitive agreement to acquire LTS Group Holdings LLC from Berkshire Partners, Pamlico Capital and other investors for approximately $7.1 billion in cash (subject to certain limited adjustments), representing approximately 13.5x expected Adjusted EBITDA contribution during Crown Castles first full year of ownership. Lightower owns or has rights to approximately 32,000 route miles of fiber located primarily in top metro markets in the Northeast, including Boston, New York and Philadelphia. Following completion of the... More
