InfraCompute / Investments
DigitalBridge and IFM take Switch private
M&A · Switch · US$11bn, 6 December 2022.
Key terms
- Company
- Switch
- Date
- 6 December 2022
- Type
- M&A
- Value
- US$11bn
- Status
- Completed
- Region
- US
What happened
Funds affiliated with DigitalBridge and IFM Investors completed the take-private of NYSE-listed Switch, announced in May 2022.
Recorded terms
- Price per share
- US$34.25 cash
- Value basis
- About US$11bn including repayment of debt; US$34.25 per share in cash
- Segment
- Data centres
Parties
Related
More investments
Filed agreement terms
From the Agreement and Plan of Merger (Exhibit 2.1) filed on SEC EDGAR, signed 11 May 2022.
- Consideration
- US$34.25 cash per share
- Target termination fee
- US$260m
- Buyer termination fee
- US$693m
- Outside date
- Six months from signing, with an extension
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
- Switch Form 8-K Ex. 99.1: DigitalBridge and IFM complete take-private of SwitchSource date: 6 December 2022
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.
