Paetec to Buy McLeodUSA
The deal is worth $492 million.
Paetec Holding
(PAET)
agreed to acquire privately held fiber-network operator McLeodUSA for $492 million in stock.
Additionally, Paetec will assume $65 million of debt. McLeodUSA currently owns and manages one of the largest high-capacity fiber networks in the nation, spanning 20 states in the Midwest, Southwest, Northwest and Rocky Mountains, Paetec said.
Scroll to Continue
TheStreet Recommends
Paetec was up 3 cents at $12.16 early Monday.
