Monday, October 29, 2007

Covad Communications Acquired By Platinum Equity

San Jose-based Covad Communications said Sunday that it has agreed to be acquired by Platinum Equity for $1.02 per share, in a deal worth around $304M. The firm said that the deal was unanimously approved by its board of directors. Covad was advised by Cowen and Company, Fenwick & West LLP, and Cahill gordon & Reindel LLP in the deal; Platinum Equity was advised by Houlihan Lokey Howard & Zukin and Bingham McCutchen LLP. Covad is a provider of telecommunications services.