March 19, 2012

Willkie represents fiber optic network provider AboveNet, Inc.’s Board of Directors in AboveNet’s agreement to be acquired by Zayo Group.

On March 19, Zayo Group, LLC and AboveNet, Inc. announced that their boards of directors have approved a definitive agreement under which Zayo will acquire AboveNet for approximately $2.2 billion. Willkie advised AboveNet’s Board of Directors in the transaction, as widely reported in the press. Under the terms of the agreement, each share of AboveNet common stock issued and outstanding immediately prior to the transaction will be entitled to receive $84.00 per share in cash. The combination is expected to create a leading pure-play bandwidth infrastructure provider.

White Plains, New York-based AboveNet is a leading provider of high bandwidth connectivity solutions for businesses and carriers in U.S. and European markets. AboveNet's network is widely used in demanding sectors such as financial and legal services, media, health care, retail and government. Based in Louisville, Colorado, privately owned Zayo Group is a national provider of fiber-based bandwidth infrastructure and network-neutral colocation and interconnection services.

The deal was handled by partners Jeffrey Hochman, Steven Gartner and William Hiller and associate Jennifer Wade. Partners Ian Levin and Tariq Mundiya also provided assistance.

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