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.
Copyright Business Wire 2015