Cogent's take-over is predicted to dramatically increase its ability "to recoup the heavy investments it made in 2001" to build a nationwide network from the ground up, a Cogent insider tells GlobeSt.com. Allied Riser will become a wholly owned subsidiary under a shareholder-approved deal that gives about 0.032 shares of Cogent stock for each Allied share. Allied is voluntarily removing itself from the NASDAQ listing. Its president, CEO and chairman, Jerry Dinsmore, has stepped down.
Dave Schaeffer, Cogent's chairman and CEO, says the merger provides "necessary in-building networks as well as valued building access rights already negotiated with hundreds of building owners and real estate investment trusts across the country.
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