American Tower to buy data center operator CoreSite for $7.5 billion By Reuters – Investing.com
- Date: 15-Nov-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
American Tower to buy data center operator CoreSite for $7.5 billion By Reuters – Investing.com
(Reuters) - American Tower Corp (NYSE:) on Monday agreed to buy U.S. data center operator CoreSite Realty Corp for $7.51 billion in cash to tap into a sector that has seen a boom in demand during the COVID-19 pandemic.
The offer price of $170 per share represents a premium of about 5.7% to CoreSite's closing price on Nov. 9, when Reuters first reported talks of the deal.
Shares of CoreSite rose 2.1% to $170.25 in premarket trading.
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