logo
  

KKR, Global Infrastructure Partners To Take CyrusOne Private In $15 Bln Deal - Quick Facts

Data center REIT CyrusOne Inc. (CONE), investment firm KKR & Co. Inc. (KKR) and Global Infrastructure Partners or GIP, announced Monday a definitive agreement pursuant to which KKR and GIP will acquire all outstanding shares of common stock of CyrusOne for $90.50 per share in an all-cash transaction valued at approximately $15 billion, including the assumption of debt.

The $90.50 per share purchase price reflects a premium of approximately 25% to CyrusOne's unaffected closing stock price of $72.57 on September 27, 2021, the last full trading day prior to published market speculation regarding a potential sale of the Company.

This announcement is the culmination of a robust strategic review process conducted by the CyrusOne Board of Directors to determine the best path forward for the Company and maximize stockholder value.

The deal will provide CyrusOne access to substantial additional resources and expertise from KKR and GIP to accelerate their global expansion.

The transaction, which was unanimously approved by the CyrusOne Board of Directors, is not subject to a financing condition and is expected to close in the second quarter of 2022, subject to satisfaction of customary closing conditions, including regulatory approvals and approval by CyrusOne stockholders.

Upon completion of the transaction, CyrusOne will be a privately held company wholly owned by KKR and GIP and CyrusOne's common stock will no longer be listed on any public market.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Home improvement company Lowe's and pet retailer Petco Health and Wellness Co. are set to launch a pilot store-in-store program whereby a total home solution will be offered to customers by bringing home improvement as well as pet care products, services and expertise together under the same roof. Chevron Corporation (CVX) reported fourth quarter profit of $5.1 billion or $2.63 per share, compared to a loss of $665 million or $0.33 per share, previous year. The company's U.S. upstream operations earned $2.97 billion, compared to $101 million, a year ago. The company said the improvement was primarily... While reporting financial results for the fourth quarter on Friday, Colgate-Palmolive Co. (CL) initiated its earnings and sales growth guidance for the full-year 2022. For fiscal 2022, the company now expects earnings per share to grow in double-digit percentage and adjusted earnings per share growth...
Follow RTT