- Crown Castle International (NYSE:CCI +2%) has closed its acquisition of FPL FiberNet Holdings and some other subsidiaries of NextEra Energy (NEE +1%).
- Crown Castle had come to a $1.5B all-cash arrangement at the beginning of November, with the deal set to extend its fiber network by 11,500 route miles in South Florida and Texas, about 6,000 of those in metro areas.
- CCI will update its outlook in light of the acquisition when it provides Q4 earnings results, scheduled for Jan. 25. It had said the deal would be immediately accretive to adjusted funds from operations at the closing, and that it saw contributions of $105M-$110M to gross margin from the deal.