Tower Cloud: Communications Sales & Leasing To Buy Tower Cloud For $230 Million Cash And Stock

Communications Sales & Leasing, Inc (Nasdaq: CSAL) revealed that it reached a definitive agreement to buy privately-held Tower Cloud, Inc. for $230 million in cash and stock. According to the company, Tower Cloud's fiber network currently consists of 90,000 fiber strand miles in service across the southeastern United States, with 181,000 fiber strand miles awarded for future deployment for the major wireless carriers. The transaction is expected to close in the fourth quarter.As per the terms of the deal, Tower Cloud shareholders would get initial consideration of $230 million, subject to customary closing ...Full story available on Benzinga.com