Deals
American Tower to Acquire Global Tower in $3.3 Billion Deal
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American Tower Corp., the biggest operator of cellular towers in the U.S., agreed to acquire the parent company of rival Global Tower Partners for about $3.3 billion, giving it thousands of additional wireless sites as the appetite for next-generation services grows.
American Tower is buying MIP Tower Holdings LLC, a closely held real estate investment trust that owns Global Tower Partners and related companies, according to a statement today. The deal brings American Tower about 5,400 U.S. towers and the management rights to more than 9,000 additional sites. Including debt, the purchase price is about $4.8 billion.