On December 16, 2011, Crown Castle International Corp. announced that it has entered into a definitive agreement to acquire NextG Networks, Inc. (“NextG”) for approximately $1.0 billion in cash, subject to certain adjustments. Cravath represented Crown Castle in connection with this transaction.
NextG is the largest provider of outdoor distributed antenna systems (“DAS”). The acquisition will expand Crown Castle’s portfolio of DAS, providing additional wireless coverage and capacity solutions to customers beyond those areas traditionally served by towers. The acquisition is expected to close in the second quarter of 2012.
The Cravath team included partners Stephen L. Burns and Erik R. Tavzel, senior attorney Mile T. Kurta and associates Andrew C. Elken and Meredith Holt on corporate matters; partner Michael L. Schler and associate Mark E. Dundon on tax matters; partner Eric W. Hilfers, practice area attorney Michael Krasnovsky and associate Audry X. Casusol on executive compensation and benefits matters; and partner Matthew Morreale on environmental matters.