Short Take: Intermedia acquired Digex

Intermedia Communications will acquire Internet service provider Digex for $13 per share or approximately $150 million. Intermedia will acquire all outstanding Digex shares. The acquisition was unanimously approved by the board of directors of both companies, and shareholders owning a majority stake in Digex have agreed to sell their shares to Intermedia for $13 per share.

June 5, 1997 9:00 a.m. PT

will acquire Internet service provider Digex for $13 per share or approximately $150 million. Intermedia will acquire all outstanding Digex shares. The acquisition was unanimously approved by the board of directors of both companies, and shareholders owning a majority stake in Digex have agreed to sell their shares to Intermedia for $13 per share.