American Tower to Acquire and Lease Cell Phone Towers from Verizon

Cleary Gottlieb is representing American Tower in its acquisition of rights to approximately 11,324 wireless communications towers and its purchase of approximately 165 additional towers from Verizon Communications, Inc. for $5.056 billion in cash, subject to certain adjustments. The transaction is subject to customary closing conditions and is expected to close during the first half of 2015.

American Tower is a leading independent owner, operator and developer of wireless and broadcast communications real estate with a global portfolio of approximately 70,000 communications sites.