Last week, while most of us were stuffing our faces with turkey, ham, stuffing, mashed potatoes, cranberry sauce, and apple pie The Federal Communications Commission was busy at work signing off on allowing Windstream Corp.'s acquisition of PAETEC (News - Alert) Holding Corp., both of whom happen to be preferred providers of master agent TBI.
"The merger creates a $6 billion company with nationwide reach and continues Windstream's (News - Alert) transformation to a next-generation communications and technology provider with a full suite of enterprise-focused solutions," Windstream president and CEO Jeff Gardner said in a statement.
A recent article revealed that Windstream is hoping to have all the loose ends in regards to the merger tied up and finished by tomorrow, December 1.
Together PAETEC and Windstream will form a mega company that projects revenues of around $6.1 billion, with a majority of this exorbitant stream coming directly from business and broadband sales, Zachs Equity Research said back in the summer when there rumblings about the potential deal first emerged.
Back in October, TMCnet reported that Level 3 Communications (News - Alert) might be making a bid for the company that would completely change the game. FBR Capital Markets & Co. analyst David Dixon commented, “Level 3 would be justified to offer a higher bid than Windstream.” He added that although the WIN/PAET deal “makes sense from a defensive perspective and offers some synergies, an LVLT/PAET deal makes greater strategic sense from a scale perspective and we believe creates more upside for both LVLT and PAET shareholders, due to even higher synergies from their overlapping network coverage and operations.”
Well, it looks like that didn’t happen, and that PAETEC and Windstream will finally be joining forces to combine their wide portfolios, allowing their lucky customers to gain access to many more capabilities than previously available.
Jamie Epstein is a TMCnet Web Editor. Previously she interned at News 12 Long Island as a reporter's assistant. After working as an administrative assistant for a year, she joined TMC (News - Alert) as a Web editor for TMCnet. Jamie grew up on the North Shore of Long Island and holds a bachelor's degree in mass communication with a concentration in broadcasting from Five Towns College. To read more of her articles, please visit her columnist page.
Edited by Rich Steeves