Equinix Says Board Approves REIT Conversion Plan, Says On track for $3B Yearly Revenue by 2015
Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced that its Board of Directors has approved a plan for Equinix to pursue conversion to a real estate investment trust (REIT). Equinix's Board reached this decision after thorough analysis of various structures, including alternative financing, capital, and tax strategies, designed to maximize long-term shareholder value. If Equinix is ultimately successful in the conversion process, Equinix expects to elect REIT status for its taxable year beginning January 1, 2015.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.