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XO Cleared to Buy Allegiance

Carrier Hotels Staff Posted Feb 19, 2004

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RESTON, VA - XO Communications, Inc. today announced that Judge Robert Drain of U.S. Bankruptcy Court for the Southern District of New York has issued an order approving XO Communications’ proposed purchase of substantially all of the assets of Allegiance Telecom, Inc. for approximately $311 million in cash and 45.38 million shares of XO common stock. The transaction remains subject to, among other things, applicable federal and state governmental regulatory approvals and termination of applicable waiting periods. Read the full release ...