SBA buying radio towers for $1.45 bln
6/26/12 7:21 AM ET (MarketWatch)
NEW YORK (MarketWatch) -- SBA Communications Corp. said Tuesday it'll buy 3,252 tower sites for wireless communications from TowerCo in a deal valued at $1.45 billion. The price includes $1.2 billion in cash and 4.6 million shares of SBA Communications Class A common stock. The deal is expected to close in the fourth quarter. "We expect these towers will be in great demand for the future cell-splitting needs of U.S. wireless carriers, which needs we anticipate will flow from the continued growth in consumer demand for wireless data services," the Boca Raton, Fla.-based company said.