Investment firm KKR & Co. Inc and Global Infrastructure Partners agreed to acquire CyrusOne Inc for nearly $15B, according to a report by Markets Insider on Monday.
The agreed $90.50 per share purchase price signals a premium of nearly 25% to CyrusOne’s unaffected closing stock price of $72.57 on September 27, 2021.
The announcement marks the end of a robust strategic assessment process performed by the CyrusOne Board of directors to identify the direction for the Company and maximize shareholder value.
The deal will give CyrusOne access to massive resources and expertise from KKR and GIP to boost their global expansion.
The transaction is not based on any financing condition and is anticipated to close in the second quarter of 2022 after regulatory approvals and approval by stockholders of CyrusOne.
After finalizing the transaction, CyrusOne will become a privately-held company fully owned by KKR and GIP, and common shares of CyrusOne will be removed from any public stock exchange.