Paetec, McLeodUSA set meeting date for merger vote

By Lisa Kerner

Charlotte, N.C., Dec. 21 - Paetec Holding Corp. and McLeodUSA Inc. will hold separate meetings of their stockholders on Jan. 30 to vote on the proposed merger of the two companies.

Paetec agreed to acquire McLeod in an all-stock merger valued at $557 million, including debt, it was previously reported.

The transaction is expected to close in the first quarter of 2008, according to a news release.

Paetec is a communication services company offering voice, data and internet protocol services. The company is based in Fairport, N.Y.

Privately held McLeodUSA provides managed IP-based communications services and traditional circuit-switched telephony services. The company is located in Cedar Rapids, Iowa.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.