Crown Castle reportedly makes $7bn bid for Lightower
Crown Castle has made a bid to acquire Lightower Fiber Networks in what would be its largest ever deal, according to Reuters.
In a transaction for more $7 billion including debt, the deal would be Crown Castle’s biggest acquisition to date, allowing it to diversify away from its traditional tower business.
Reuters sources added that Berkshire Partners LLC, who are the majority owner of Lightower, are spending the next few days analysing Crown Castle's bid with a deal set to made as early as this month.
Lightower’s network, which covers 3,000 fibre route miles, serving enterprises across various verticals, would give Crown Castle ownership of a broadband infrastructure provider with significant fibre assets, once the buyout is completed. This will add to Crown’s existing portfolio of 40,000 towers and 29,000 miles of fibre supporting small cell towers.
No official comment from either parties has been made.