KKR, GIP Agree To Acquire CyrusOne For $15B

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  • KKR & Co Inc KKR and Global Infrastructure Partners agreed to acquire premier global data center REIT CyrusOne Inc CONE in an all-cash transaction valued at $15 billion, including the assumption of debt.
  • The purchase price of $90.50 per share implies a 25% premium to CyrusOne's September 27 closing stock price, the last full trading day before published market speculation regarding a potential sale of the company.
  • The price represents a 5.9% premium to CyrusOne's November 12 closing price of $85.45.
  • CyrusOne will become a privately held company wholly owned by KKR and GIP. 
  • "This transaction provides CyrusOne stockholders with significant value and simultaneously positions the Company to even better serve its customers to meet their needs in key markets around the world," said Lynn Wentworth, Chair of the CyrusOne Board.
  • Price Action: CONE shares traded higher by 4.70% at $89.47 on the last check Monday.
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