logo
Plus   Neg
Share
Email

Zayo Gets Takeover Interest From Blackstone-Stonepeak Investor Group: Bloomberg

Zayo Group Holdings Inc. (ZAYO), a provider of bandwidth infrastructure services, has received takeover interest from a group of investors including funds managed by Blackstone Group LP and Stonepeak Partners LP, Bloomberg reported citing people familiar with the matter.

Funds managed by KKR & Co., I Squared Capital, GTCR and Charlesbank Capital Partners are also said to be part of the investor group that has expressed interest in a take-private deal for Zayo.

The Fiber optic company, which reportedly has enterprise value of $11.1 billion including debt, is focused on its recently announced plan to split into two parts.

The report stated that there's no guarantee a deal will be reached.

Zayo operates an almost 130,000-mile fiber network across North America and Europe.

Zayo went public in 2014, and the company announced on November 7 that it plans to separate itself into two publicly traded companies, focused on communications infrastructure as well as enterprise services.

Following a note by Cowen & Co. analyst Colby Synesael that a takeout offer was likely, Zayo's shares rose 6.6 percent on Friday.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A US appeals court ruled against an order President Donald Trump issued last month that denies asylum pleas of migrants who crossed the southern border illegally. Two members of the three-judge bench of the 9th US Circuit Court of Appeals said late Friday that the ban is inconsistent with an existing US law, and attempts to over-run Congress. A presidential order signed on November 9 says that t A collection of the popular stories from the cryptocurrency and blockchain space this week. After fluctuating early in the session, stocks moved sharply lower over the course of the trading day on Friday. The major averages showed a substantial move back to the downside following the rebound from early weakness seen in the previous session.
Follow RTT