American Tower Corporation Closes Verizon Transaction
March 30 2015 - 7:30AM
Business Wire
American Tower Corporation (NYSE:AMT) today announced that it
has closed its previously announced acquisition of the exclusive
right to lease, acquire or otherwise operate and manage 11,448
wireless communications sites from certain subsidiaries of Verizon
Communications Inc. for approximately $5.053 billion in cash.
American Tower funded the Verizon transaction with proceeds from
its concurrent registered public offerings of 25,850,000 shares of
its common stock and 13,750,000 depositary shares, each
representing a 1/10th interest in its 5.50% Mandatory Convertible
Preferred Stock, Series B, borrowings under its revolving credit
facilities and cash on hand.
About American Tower
American Tower is a leading independent owner, operator and
developer of communications real estate with a global portfolio of
over 87,000 communications sites. For more information about
American Tower, please visit www.americantower.com.
American Tower CorporationLeah Stearns, 617-375-7500Senior Vice
President, Treasurer and Investor Relations
American Tower (NYSE:AMT)
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