Dallas' CyrusOne to go private in $15 billion deal for data center company – Dallas Business Journal – Dallas Business Journal






CyrusOne Inc. in Dallas is planning to exit the Nasdaq in a multibillion deal.
The company (Nasdaq: CONE), a data center real estate investment trust, has an agreement with KKR and Global Infrastructure Partners to go private, according to a statement on Monday.
The investors will acquire CyrusOne for $90.50 per share in an all-cash transaction. The deal is valued a about $15 billion including the assumption of debt.
It’s a fresh step for the company that’s seen changes in leadership and deal speculation at times for more than two years. In September, Reuters reported CyrusOne was exploring strategic alternatives that include a potential sale, as it cited people familiar with the matter.
The purchase price for the stock reflects a premium of about 25% to the close on Sep. 27, the company said, the day before the Reuters report.
“Today’s 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,” said Lynn Wentworth, chair of the company, in a statement.
The deal is expected to wrap up in the second quarter of next year.
CyrusOne said in July that then CEO Bruce Duncan would separate from the company after holding the position for a little more than a year — and that David Ferdman, co-founder, would serve in an interim role.
Duncan joined after Gary Wojtaszek, who had been with the company nearly a decade, stepped down from his position, CyrusOne said in February 2020. Tesh Durvasula, then president of Europe, took over as CEO and president on an interim basis – just weeks after it said he would be leaving in March.
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