As reported by The Wall Street Journal, The New
York Times, Reuters and other media outlets, Paul,
Weiss client TowerCo II will be acquired by SBA Communications
Corp. for $1.2 billion in cash and 4.6 million shares of SBA Class
A common stock, for a total transaction value of about $1.45
billion. Through the transaction, SBA will acquire TowerCo II's
3,252 mobile phone tower sites in 47 states across the U.S. and
The transaction is expected to close in the fourth quarter of
As the Journal reported, the deal is meant to meet rising
consumer demand for wireless data services.
The Paul, Weiss team included corporate partners Bruce
Gutenplan and Lawrence Wee; employee benefits
partner Lawrence Witdorchic; real
estate partner Mitchell Berg; tax partner David
Sicular; and environmental counsel William O'Brien.