Zayo Group, a provider of bandwidth infrastructure solutions and colocation, remains on track to acquire AboveNet, Inc. in a $2.2 billion deal.
AboveNet and Zayo announced plans to merge last month, although a contractual provision let AboveNet seek competing proposals for 30 days. That process didn’t result in any better offers.
"After a broad solicitation of financial and strategic parties during such go-shop” period, AboveNet did not receive any alternative acquisition proposals," AboveNet said Wednesday.
Zayo’s purchase of AboveNet is expected to close in the middle of this year.