CROWN CASTLE INC. acquires Global Signal Inc.

CROWN CASTLE INC. acquired Global Signal Inc. for approximately $5.8 billion (including ~$1.8 billion assumed debt), a transaction completed in January 2007, structured as combination. The deal was a merger.

Global Signal Inc. operates in Towers, is based in United States; over 16,000 towers in top 100 BTAs (combined company). Crown Castle merged with Global Signal Inc. (NYSE: GSL) in a stock-and-cash transaction valued at approximately $5.8 billion including debt. The combination brought together two of the nation's leading tower companies with over 24,000 wireless sites and over 16,000 towers in the top 100 BTAs. Global Signal stockholders could elect Crown Castle stock or cash; cash elections were capped at $550 million, with each electing share exchanged for $8.16 in cash and approximately 1.375 Crown Castle shares after proration.

Creates a premier tower company with over 23,500 combined towers and 16,000+ towers in the top 100 BTAs; excellent strategic and operational fit with Crown Castle's existing assets, increasing expected growth in revenues and cash flow and near- and long-term accretive to recurring cash flow per share.

High-quality portfolio of wireless towers well-positioned for expected growth, with the most top-100-BTA towers of any tower company. Expected to increase growth in revenues and cash flow; near- and long-term accretive to recurring cash flow per share. Crown Castle towers segment