Regulatory approval granted for acquisition of Covad

27 Mar 2008

The Federal Communications Commission (FCC) and a number of state public utility commissions have given their seal of approval to the proposed purchase of Covad by an affiliate of Platinum Equity for USD1.02 per share in cash valuing the company at about USD304 million. Following a special meeting of stockholders on 29 February, when the deal was approved, the buyout is expected to close on 15 April 2008.

United States, Covad Communications