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BRIEF-GTT Communications enters non-binding LOI with possible acquisition candidate in telecom sector
May 24, 2017 / 10:19 PM / 7 months ago

BRIEF-GTT Communications enters non-binding LOI with possible acquisition candidate in telecom sector

May 24 (Reuters) - Gtt Communications Inc

* In May co entered non-binding LOI with possible acquisition candidate in telecom sector for proposed purchase price of about $39.5 million

* If company consummates the proposed acquisition, company expects to fund purchase price with cash on hand

* Intends to offer $150 million aggregate principal amount of its 7.875 pct senior notes due 2024 in a private offering

* Expects to fund approximately $100 million of purchase price with cash on hand and remainder with shares of its common stock

* In May, co entered another non-binding LOI with possible acquisition candidate for proposed purchase price of about $155 million Source text for Eikon: Further company coverage:

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