PEG Bandwidth’s Acquisition by Communications Sales & Leasing, Inc.
January 13, 2016
On January 7, 2016, Communications Sales & Leasing, Inc. (CS&L) announced that it has executed an agreement to acquire PEG Bandwidth, LLC, which is currently owned by affiliates of Associated Partners, L.P. The purchase price for all outstanding equity interests of PEG is valued at $409 million, subject to adjustment, and will include $315 million of cash, issuance of one million shares of CS&L’s common stock, and the issuance of 87,500 shares of CS&L’s 3% Series A Convertible Preferred Stock. Cravath is representing Associated Partners in connection with this transaction.
The Cravath team is being led by partner Thomas E. Dunn and includes associates Katerina M. Novak and Jessica M. De Simone on M&A matters; partner J. Leonard Teti II and associate Ashley N. Elnicki on tax matters; practice area attorney David B. Teigman and associate Amy C. Benford on executive compensation and benefits matters. Alexander E. Shiekman also worked on M&A matters.
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J.D., 1992, Duke Law Schoolsumma cum laude
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B.A., 1987, The College of William & Mary
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
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