NEON shareholders to decide merger with RCN on Nov. 6

By Lisa Kerner

Charlotte, N.C., Oct. 1 - NEON Communications Group, Inc. scheduled a special meeting of shareholders for Nov. 6 at 10 a.m. ET in Westborough, Mass., for the purpose of voting on the company's acquisition by RCN Corp.

The company's board of directors unanimously recommended that shareholders OK the merger, according to a schedule 14A filing with the Securities and Exchange Commission.

The record date for the meeting is Sept. 28.

Three NEON shareholders entered into an agreement to vote their approximately 28.4% stake in NEON in favor of the transaction.

On June 25, it was reported that RCN agreed to acquire NEON for $5.25 per share, or about $260 million.

New York-based NEON provides high-bandwidth fiber optic capacity and end-to-end telecom services to communications companies and enterprise customers in the 12-state Northeast and mid-Atlantic region.

RCN, located in Herndon, Va., provides bundled cable, high-speed internet and phone services over its fiber-optic local network to residential customers.

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