Zayo Announces Definitive Agreement To Be Acquired By Digital Colony And EQT
The transaction would result in Zayo becoming a private company.
Zayo Group Holdings, Inc. (“Zayo” or “the Company”) has announced that it has signed a definitive merger agreement to be acquired by affiliates of Digital Colony (“Digital Colony”) and the EQT Infrastructure IV fund (“EQT” or “EQT Infrastructure”). The transaction would result in Zayo transitioning from a public company to a private company. Under the new ownership, the Zayo team would continue to execute the Company’s strategy and remain headquartered in Boulder, Colorado.
Under the terms of the agreement, which was unanimously approved by Zayo’s Board of Directors, shareholders will receive $35.00 in cash per share of Zayo's common stock in a transaction valued at $14.3 billion, including the assumption of $5.9 billion of Zayo’s net debt obligations. The offer price represents a 32% premium to the volume-weighted price average of the last six months of $26.44.