DYCOM INDUSTRIES, INC. TO ACQUIRE CERTAIN ASSETS OF ORIUS CORPORATION
Palm Beach Gardens, Florida and Barrington, Illinois, December 12, 2005 — Dycom Industries, Inc. (NYSE Symbol: "DY") and Orius Corporation today jointly announced that the two companies have entered into an Asset Purchase Agreement pursuant to which Dycom would buy certain assets and assume a number of the contracts of Orius for approximately $8.0 million in cash and the assumption of $1.0 million of liabilities. In order to implement the purchase, Orius and certain of its subsidiaries have filed cases under Chapter 11 of the Bankruptcy Code. The agreement will be filed with the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division, along with a motion seeking the establishment of sale procedures for an auction that allows other qualified bidders to submit higher or otherwise better offers for all or part of Orius in a competitive auction process. The agreement is subject to Bankruptcy Court approval and other customary closing conditions.
Dycom to acquire certian assets of Orius
Member #: 5259
Registered: 1996-2001
Posted:
22
Name:
Don Simmons
Name:
Don Simmons
Company:
Technical Cabling Services
Occupation:
Video, Voice, Data & Network Contractor
Location:
Fort Worth, Texas
There is 1 reply to this message
