SBA Communications Corporation acquired AAT Communications Corp for approximately $634.0 million cash plus 17,059,336 Class A shares (~$392.7 million), a transaction completed in April 2006, structured as cash and stock.
AAT Communications Corp operates in Wireless towers - US, is based in United States. On April 27, 2006 SBA acquired 100% of AAT Communications Corp from AAT Holdings, LLC II. AAT owned 1,850 tower sites across the United States, giving SBA a nationwide operating platform. SBA paid $634.0 million in cash and issued 17,059,336 shares of Class A common stock valued at approximately $392.7 million.
The acquisition gave SBA a nationwide platform to pursue its asset-growth strategy and let it leverage its fixed overhead costs across a much larger tower base.
The acquisition provides the Company with a nationwide platform to pursue its asset growth strategy and allows the Company to leverage its fixed overhead costs.SBA Communications, FY2006 Form 10-K, Acquisitions note
Advisory firms were not disclosed for this transaction.