Eschelon Telecom (NASDAQ:ESCH)
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Eschelon Telecom, Inc., (NASDAQ:ESCH) a leading provider of integrated
communications services to small and medium sized businesses in the
western United States, today announced that it has filed a definitive
proxy with the SEC in regards to its proposed acquisition by Integra
Telecom Holdings, Inc. and distributed the proxy to its shareholders.
The company has established a date of May 25, 2007, for its shareholder
meeting. For more information about the proxy, please see the SEC
website at www.sec.gov/edgar.shtml.
About Eschelon Telecom, Inc.
Eschelon Telecom, Inc. is a facilities-based competitive communications
services provider of voice and data services and business telephone
systems in 45 markets in the western United States. Headquartered in
Minneapolis, Minnesota, the company currently employs approximately
1,400 telecommunications/Internet professionals, serves over 60,000
business customers and has approximately 600,000 access lines in service
throughout its markets in Minnesota, Arizona, Utah, Washington, Oregon,
Colorado, Nevada, Montana and California. For more information, please
visit our web site at www.eschelon.com
About Integra Telecom, Inc.
Integra Telecom, Inc. provides voice, data and Internet communications
to thousands of business and carrier customers in eight Western states,
including: Arizona, California, Idaho, Minnesota, North Dakota, Oregon,
Utah and Washington. The company owns and operates a best-in-class
fiber-optic network comprised of eight metropolitan access networks, a
nationally acclaimed tier one Internet and data network and a 4,700-mile
high-speed long haul network. The company enjoys some of the highest
customer loyalty and customer satisfaction ratings in the
telecommunications industry. Primary equity investors in the company
include Bank of America Capital Investors, Boston Ventures and Nautic
Equity Partners. Integra Telecom and Electric Lightwave are registered
trademarks of Integra Telecom Inc. For more information, visit www.integratelecom.com.
Additional Information and Where to Find It
A definitive proxy statement of the Company has been filed with the
Securities and Exchange Commission (the “SEC”).
WE URGE INVESTORS TO READ THE PROXY STATEMENT CAREFULLY BECAUSE IT
CONTAINS IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PROPOSED
TRANSACTION.
Investors and security holders will be able to obtain free copies of the
Proxy Statement and other documents filed with the SEC by the Company
through the web site maintained by the SEC at www.sec.gov.
Free copies of the Proxy Statement may also be obtained from the Company
and free copies of the Company’s other filings
with the SEC may also be obtained from the Company. Free copies of the
Company filings may be obtained by sending a written request to Investor
Relations, Eschelon Telecom, Inc. 730 Second Ave. Minneapolis, MN 55402.
In addition, investors and security holders may access copies of the
documents filed with the SEC by the Company on its website at www.eschelon.com,
under the links “Investor Relations—SEC
Filings” when they become available.
Eschelon and its officers and directors may be deemed to be participants
in the solicitation of proxies with respect to the proposed transaction.
Information regarding such individuals is included in Eschelon’s
proxy statements and Annual Reports on Form 10-K previously filed with
the Securities and Exchange Commission and is included in the proxy
statement relating to he proposed transaction.
Forward Looking Statements
This announcement contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements are based on Eschelon Telecom’s
current intent, belief and expectations. These statements are not
guarantees of future performance and are subject to certain risks and
uncertainties that are difficult to predict. Actual results may differ
materially from these forward-looking statements because of the company’s
history of losses, ability to maintain relationships with RBOCs,
substantial indebtedness, intense competition, dependence on key
management, changes in government regulations, and other risks that may
be described in the company’s filings with
the Securities and Exchange Commission. In particular, statements
regarding the consummation of the merger are subject to risks that the
conditions to the transaction will not be satisfied. In addition, our
results of operations, financial condition and cash flows also may be
adversely impacted by the recent announcement of the proposed
transaction, which may impact our ability to attract and retain
customers, management and employees. We have incurred and will continue
to incur significant advisory fees and other expenses relating to the
transaction. Existing and prospective investors are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of today’s date. Eschelon Telecom
undertakes no obligation to update or revise the information contained
in this announcement, whether as a result of new information, future
events or circumstances or otherwise.