Zayo to be Acquired by Digital Colony and EQT

Zayo has signed a definitive merger agreement to be acquired by affiliates of Digital Colony and EQT Infrastructure.

The transaction would result in Zayo transitioning from a public company to a private company. 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 percent premium to the volume-weighted price average of the last six months of $26.44.

The closing of the deal is subject to customary conditions, including regulatory clearance and Zayo shareholder approvals. The transaction is expected to close in the first half of calendar 2020.