Cravath represented Cable One in connection with the transaction.
Cable One, Inc. has entered into a definitive agreement to acquire the equity interests in Hargray Acquisition Holdings, LLC that it does not already own. The equity interests to be acquired by Cable One represent approximately 85% of Hargray on a fully diluted basis. The transaction, which implies a $2.2 billion total enterprise value for 100% of the equity interests of Hargray on a debt-free and cash-free basis, will expand Cable One’s presence into the Southeastern U.S. and enable Cable One to capitalize on Hargray’s experience and expertise in fiber expansion.
Founded in 1947, Hargray is a regional telecommunications company providing advanced Internet, television, and telephone communications services in a growing set of markets in South Carolina, Georgia, Alabama and Florida.
Cable One, Inc. (NYSE: CABO) is a leading broadband communications provider serving more than 950,000 residential and business customers in 21 states through its Sparklight® and Clearwave® brands.
The Cravath team advising Cable One was led by partners Jenny Hochenberg (Picture) and Robert I. Townsend III and includes associates Kelly M. Smercina, Michael P. E. Dooley and Eric S. Goodwin on M&A matters; partner Joseph D. Zavaglia and associates Benjamin G. Joseloff and Nastassia Shcherbatsevich on financing matters; partner Eric W. Hilfers and associate Christopher C. Gonnella on executive compensation and benefits matters; partner Lauren Angelilli and associate Peter W. Rogers on tax matters; partner David J. Kappos and associate Carys J. Webb on intellectual property matters; partner Matthew Morreale on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. Joana W. Li also worked on tax matters.
Involved fees earner: Lauren Angelilli – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore; Michael P. E. Dooley – Cravath Swaine & Moore; Christopher Gonnella – Cravath Swaine & Moore; Eric Goodwin – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Jenny Hochenberg – Cravath Swaine & Moore; Benjamin Joseloff – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Peter Rogers – Cravath Swaine & Moore; Nastassia Shcherbatsevich – Cravath Swaine & Moore; Kelly Smercina – Cravath Swaine & Moore; Robert Townsend III – Cravath Swaine & Moore; Carys Webb – Cravath Swaine & Moore; Joseph Zavaglia – Cravath Swaine & Moore;
Law Firms: Cravath Swaine & Moore;
Clients: Cable One;