Covad Communications Group (DVW) Receives Regulatory Approval for Proposed Acquisition
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Covad Communications Group Inc., (AMEX: DVW) 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.[SM]
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