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Eversheds Sutherland advises Cox Communications on acquisition

Eversheds Sutherland is pleased to announce that it represented client Cox Communications, the largest private telecom company in America, in entering into a definitive agreement to acquire Charlotte-based Segra, one of the largest privately held fibre infrastructure providers in the United States.

Under the terms, Cox will acquire Segra’s commercial services segment, which is a leading super-regional, fibre-based provider serving commercial enterprise and carrier customers in nine states in the Mid-Atlantic and Southeast. The company’s dense metropolitan fibre network provides enhanced technology solutions and a commitment to a superior customer experience.

As part of the transaction, EQT Infrastructure will retain ownership of Segra’s fiber-to-the-premise (FTTP) residential and small- to medium-sized business segment in Virginia and North Carolina and accelerate the plan to expand broadband services to neighbourhoods and markets throughout their regions. The transaction is subject to customary regulatory approvals and closing conditions.

Corporate Partners David S. Phillips and Matthew Block led the Eversheds Sutherland team, which included Partners Michael A. Hepburn, M. Hill Jeffries, Taylor Kiessig, Meredith O’Leary, Jeremy D. Spier, Kristina Kopf Thomas, Counsel Aaron Moody, Staff Attorney Bonnie R. Burke, and Associates Robert R. Christoffel, Kristin W. Cleare, Jazmen B. Howard, Caitlin G. Naylor, Mary Kate Nicholson, William D. Ponder, Alexander F. L. Sand, and Laura A. Taylor.

About Eversheds Sutherland’s Corporate Practice

With more than 700 attorneys worldwide, Eversheds Sutherland’s global mergers and acquisitions team provides pragmatic advice and comprehensive support that enables clients to evaluate, structure and complete transactions across a broad spectrum of industries.

The team combines decades of experience with in-depth knowledge of local and cross-border practices. Wherever the transaction is led from, we provide a seamless and integrated worldwide service.

Our attorneys are well versed in the unique requirements of mergers, tender offers, stock and asset acquisitions, corporate restructurings, spin-offs, recapitalisations and other deal structures. We negotiate and establish alliances, joint ventures and other partnering relationships. In addition, we develop innovative approaches to implement other tailored commercial relationships.

Our global M&A team advises clients across a broad range of sectors including financial services, insurance, payment systems, technology, communications, energy, industrials, consumer products, professional services, health care and eCommerce. We understand regulatory frameworks and the impact on transactions of the key issues that affect your business. This in-depth sector knowledge allows us to add real value to the M&A process.

Grant Thornton names three executives to Audit Quality Advisory Council

As part of its continued commitment to ‘quality without question,’ Grant Thornton LLP has named three executives to the firm’s Audit Quality Advisory Council. The three-person council now includes two independent members – Chris Mandaleris and Ann Yerger – and Grant Thornton Partnership Board member Seth Siegel.

As advisers to Grant Thornton’s Partnership Board, the council will provide deep, practical and objective advice regarding ways Grant Thornton can continue to deliver high audit quality. In so doing, this council will champion the audit profession and its role in supporting the trustworthiness of our public markets.

“At Grant Thornton, we are committed to delivering the highest quality audits to our clients,” said Mike McGuire, CEO of Grant Thornton. “Chris, Ann and Seth bring more than 75 years of combined professional services experience to our council and we look forward to working alongside them to strengthen our position as a leader in the profession for quality. This group will, in turn, help make our firm the auditor of choice for companies committed to excellence.”

Mandaleris, a retired Ernst & Young LLP Audit partner, joins the Audit Quality Advisory Council after having spent 25 years working in EY’s Audit practice and having helped open the firm’s Greensboro, North Carolina office. Most recently, he was the senior deputy director in the Public Company Accounting Oversight Board’s (PCAOB) inspections division. After 13 years with the PCAOB, Mandaleris retired in 2016 and dedicated his time to serving the Greek Orthodox Church in the southeast as a volunteer strategy, governance and internal control advisor. He is a certified public accountant (CPA) in Alabama and a member of the American Institute of Certified Public Accountants (AICPA).

Yerger joins Grant Thornton’s council after spending the past 20 years at the Council of Institutional Investors, where she served as the executive director. She has also served as the executive director of EY’s Center for Board Matters, as a member of the PCAOB’s Investor Advisory Group, and as a member of the SEC’s Investor Advisory Committee. She also served on the U.S. Treasury Department’s Advisory Committee on the Auditing Profession. Yerger is currently a member of Spencer Stuart’s North American Board Practices and is an independent director of Hershey Entertainment and Resorts Company, where she chairs the nominating and governance committee and serves as a member of its compensation committee.

Siegel, who serves as an Audit partner and as Grant Thornton’s Florida Audit practice leader, will function as the council’s Partnership Board representative. He joined the firm in 1996 and has more than 20 years of public accounting and corporate finance experience. He provides services to both publicly-traded and privately-held entities with a focus on companies in a variety of industries, including financial services, private equity, real estate, hospitality and energy. Siegel is a CPA in Florida and a member of the Florida Institute of CPAs and the AICPA.

Jeff Burgess, national managing partner of Audit Services at Grant Thornton, sums up the additions of Mandaleris, Yerger and Siegel by saying this: “These new members not only reaffirm our focus on quality above all else, but the council itself complements Grant Thornton’s approach to providing the audit of the future, which is built around innovation and quality.”

If you would like to find out more information about Grant Thornton’s audit initiative, please visit https://www.grantthornton.com/auditinnovation

About Grant Thornton LLP

Founded in Chicago in 1924, Grant Thornton LLP (Grant Thornton) is the U.S. member firm of Grant Thornton International Ltd, one of the world’s leading organisations of independent audit, tax and advisory firms. Grant Thornton, which has revenues in excess of $1.8 billion and operates 58 offices, works with a broad range of dynamic publicly and privately held companies, government agencies, financial institutions, and civic and religious organisations.

“Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions. Please see grantthornton.com for further details.