InfraCompute / Investments
American Tower acquires CoreSite
M&A · CoreSite · US$10.1bn, 28 December 2021.
Key terms
- Company
- CoreSite
- Date
- 28 December 2021
- Type
- M&A
- Value
- US$10.1bn
- Status
- Completed
- Region
- US
What happened
American Tower closed its tender offer and merger for CoreSite, adding 25 US data centres and interconnection campuses to its tower business. The closing was funded with revolver and term loan borrowings.
Recorded terms
- Price per share
- US$170.00 cash
- Funding
- American Tower revolving credit facilities and term loans
- Value basis
- About US$10.1bn including assumption or repayment of debt; US$170.00 per share in cash
- Segment
- Data centres
Parties
More investments
Filed agreement terms
From the Agreement and Plan of Merger (Exhibit 2.1) filed on SEC EDGAR, signed 14 November 2021.
- Consideration
- US$170.00 cash per share
- Target termination fee
- US$300m
- Outside date
- 13 May 2022
For counsel on a deal like this
M&A, preferred equity and joint venture terms from the filed agreements, for the buyer’s, the seller’s or the sponsor’s side. Previews are open; the full text is free with InfraCompute Weekly.
Sources
- American Tower Form 8-K Ex. 99.1: American Tower to acquire CoreSiteSource date: 15 November 2021
- American Tower Form 8-K Ex. 99.2: completion of CoreSite acquisitionSource date: 28 December 2021
About this record
Compiled from the sources above. Investments are recorded separately from the debt register and are not counted in debt totals. Terms are as announced and may have changed since. Methodology · Send a correction.
