Covad (DVW)

[Stock]

Covad Announces Regulatory Approval for Proposed Acquisition

Last update: 3/26/2008 9:01:28 AM

SAN JOSE, Calif., Mar 26, 2008 (BUSINESS WIRE) -- Covad Communications Group Inc., (DVW), a leading national provider of integrated voice and data communications, announced today that it has obtained all of the required regulatory approvals for the proposed acquisition of Covad by an affiliate of Platinum Equity.

The approvals were provided by the Federal Communications Commission and a number of state public utility commissions. At a Special Meeting of Stockholders, held February 29, 2008, holders of a majority of the company's outstanding shares approved the agreement and plan of merger pursuant to which...

...an affiliate of Platinum Equity will acquire all outstanding shares of Covad for $1.02 per share in cash...

The parties expect to close the transaction on April 15, 2008...