Cable One To Purchase Hargray Communications - Quick Facts

(RTTNews) - Cable One, Inc. (CABO) announced definitive agreement to acquire the equity interests in Hargray Acquisition Holdings, LLC that it does not already own. The transaction implies a $2.2 billion total enterprise value for 100% of the equity interests of Hargray on a debt-free and cash-free basis. This acquisition will expand Cable One's presence into the Southeastern U.S.

Cable One expects to complete Hargray deal during the second quarter of 2021. The equity interests to be acquired by Cable One represent approximately 85% of Hargray on fully diluted basis.

Cable One expects to realize approximately $45 million in estimated annual run-rate synergies within three years of closing the transaction.

Cable One intends to finance this transaction with combination of existing cash resources, revolving credit facility capacity and proceeds from new indebtedness and/or equity capital.