PAETEC Closes McLeodUSA Deal

PAETEC on Friday closed its $557 million acquisition of privately held McLeodUSA Inc.

The deal was announced nearly five months ago, on Sept. 17, 2007. It creates the first coast-to-coast CLEC; its size and revenue surpasses that of XO Communications, Level 3 Communications Inc. and Time Warner Telecom.

PAETEC said the combined company should generate annual revenue of at least $1.6 billion and have more than 3.5 million access line equivalents.

PAETEC stock closed at $8.45 on Friday, down 15 cents.


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