Integra Telecom, Inc. and Eschelon Telecom, Inc. Reiterate Expected Closing Date of August 31, 2007
09 August 2007 - 12:18PM
Business Wire
Integra Telecom Inc. and Eschelon Telecom, Inc. (NASDAQ:ESCH)
reiterated today that they expect the acquisition of Eschelon by
Integra to close on Friday, August 31, 2007. Deutsche Bank
Securities, Morgan Stanley and CIBC World Markets have informed
Integra today that they have successfully completed the syndication
of the secured second lien and senior unsecured PIK debt. About
Integra Telecom, Inc. Integra Telecom, Inc. provides voice, data
and Internet communications to thousands of business and carrier
customers in eight Western states, including: Arizona, California,
Idaho, Minnesota, North Dakota, Oregon, Utah and Washington. The
company owns and operates a best-in-class fiber-optic network
comprised of eight metropolitan access networks, a nationally
acclaimed tier one Internet and data network and a 4,700-mile
high-speed long haul network. The company enjoys some of the
highest customer loyalty and customer satisfaction ratings in the
telecommunications industry. Primary equity investors in the
company include Bank of America Capital Investors, Boston Ventures
and Nautic Equity Partners. Integra Telecom and Electric Lightwave
are registered trademarks of Integra Telecom Inc. For more
information, visit www.integratelecom.com. About Eschelon Telecom,
Inc. Eschelon Telecom, Inc. is a facilities-based competitive
communications services provider of voice and data services and
business telephone systems in 53 markets in the western United
States. Headquartered in Minneapolis, Minnesota, the company
currently employs approximately 1,430 telecommunications/Internet
professionals, serves over 65,000 business customers and has
approximately 679,000 access lines in service throughout its
markets in Minnesota, Arizona, Utah, Washington, Oregon, Colorado,
Nevada, Montana and California. For more information, please visit
our web site at www.eschelon.com Forward Looking Statements This
announcement contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements are based on Eschelon Telecom�s current
intent, belief and expectations. These statements are not
guarantees of future performance and are subject to certain risks
and uncertainties that are difficult to predict. Actual results may
differ materially from these forward-looking statements because of
the company�s history of losses, ability to maintain relationships
with RBOCs, substantial indebtedness, intense competition,
dependence on key management, changes in government regulations,
and other risks that may be described in the company�s filings with
the Securities and Exchange Commission. In particular, statements
regarding the consummation of the merger are subject to risks that
the conditions to the transaction will not be satisfied. In
addition, our results of operations, financial condition and cash
flows also may be adversely impacted by the recent announcement of
the proposed transaction, which may impact our ability to attract
and retain customers, management and employees. We have incurred
and will continue to incur significant advisory fees and other
expenses relating to the transaction. Existing and prospective
investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of today�s date.
Eschelon Telecom undertakes no obligation to update or revise the
information contained in this announcement, whether as a result of
new information, future events or circumstances or otherwise.
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