November 18, 2021 | Technology | North America | Ended

CyrusOne / KKR, Global Infrastructure Partners: Deal Insights

Data centre real estate investment trust (REIT) CyrusOne has agreed to a $15bn public-to-private buyout by KKR and Global Infrastructure Partners (GIP). The consideration offered is $90.50 cash per share, which represents a 25% premium to CyrusOne’s undisturbed closing price on 27-Sep-21, the day before Reuters reported that CyrusOne was exploring strategic alternatives. Formally announced on 15-Nov-21, the deal is conditional on approval from CyrusOne shareholders (50% of votes cast) as well as on antitrust and foreign investment clearances from relevant authorities. Only the FTC was mentioned in the merger agreement and the parties are expected to file an HSR notification within 10 business days from the date of the agreement (by 29-Nov-21). The transaction is also subject to receipt of an opinion that CyrusOne has been and will be qualified to operate as a REIT from ...

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