American Tower closes $5B site takeover from Verizon

• American Tower (NYSE:AMT) says it's closed its $5.06B transaction to take over tower sites from Verizon (VZ) -- which sought to sell off tower and wireline assets after bidding heavily in the FCC's AWS-3 wireless spectrum auction.
• AMT drew funds from its offering of 25.85M shares of common stock and 13.75M depositary shares, as well as revolving credit and cash on hand.
• American Tower reported $313.5M in cash in its most recent quarter.
• AMT up 0.5%; VZ up 0.8%.
• Previously: Verizon reaches $5B sale of towers to American Tower (Feb. 05 2015)