Zayo Group LLC might not be FiberNet Telecom’s (FTGX) buyer after all.
Enterprise-minded cable operator RCN (RCNI) has swooped in with a $96 million purchase offer, a sum that certainly surmounts Zayo’s $88 million. And it was clear from the outset of the proposed Zayo-FiberNet transaction – announced in May – that “any superior proposals” made by June 17 would trump Zayo’s plan.
RCN said it sent a letter to FiberNet on June 16.
And the Herndon, Va.-based company now has sparked a bidding war. RCN and Zayo both target East Coast and Chicagoland markets, and each is expanding to include other regions, strategies to ensure growth and please shareholders. FiberNet said in a June 18 filing with the Securities and Exchange Commission it will hold talks with RCN, but warned that confirming the activity does not equal acceptance of RCN’s offer.
RT @Channel_Expo: We're proud to announce AT&T as our Official Security Sponsor! Meet with them at #CPEXPO at booth 531 >> https://t.co/uT…
February 20 2019 @ 21:19:29 UTC
.@MomentumTelecom acquiring Metro Optical to expand portfolio. #UCaaS #SDWAN goo.gl/fb/16EkGM
February 20 2019 @ 21:10:12 UTC
What led to @MNJTechnologies winning over a customer from a major carrier? It wasn't just cost. goo.gl/fb/Zt3swJ
February 19 2019 @ 23:50:48 UTC
.@PaloAltoNtwks acquiring @demistoinc in $560 million deal. #cybersecurity goo.gl/fb/JNAueT
February 19 2019 @ 23:36:20 UTC
.@Windstream facing tough financial decisions after court defeat. #bankruptcy goo.gl/fb/yGDkpZ
February 19 2019 @ 21:25:30 UTC
.@jenneinc rolls out new #cloud commissions dashboard for cloud partners. goo.gl/fb/jmF5kh
February 19 2019 @ 20:32:09 UTC
Scroll through the gallery for the latest updates in the #channel --> bit.ly/2tjkmJF
February 19 2019 @ 16:53:02 UTC
#CoffeeWithCraigAndKevin welcome @S1Xaa and @ChoiceIoT to the #podcast. goo.gl/fb/rNZbXd
February 19 2019 @ 14:54:30 UTC
Loading ...