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American Tower Corporation (NYSE code:Government office) (“American Tower”) today announced that it has completed the acquisition of CoreSite Realty Corporation (NYSE stock code:COR) (“CoreSite”) after the completion of its previously announced tender offer for all issued common shares of CoreSite. American Tower completed the acquisition of CoreSite by merging one of its wholly-owned subsidiaries with CoreSite. The funds for this transaction came from American Tower’s revolving credit facility and borrowings under term loans.
American Tower CEO Tom Bartlett said: “We are very pleased to welcome the outstanding team of CoreSite to the American Tower, and are ready to work together to create long-term shareholder value. With the acceleration of 5G deployment and the acceleration of wireless and wired convergence, we hope to use CoreSite to be highly interactive. Connected data center facilities and key cloud portals can drive strong, consistent, and regular growth, while the emerging edge computers will increase the value of our existing tower real estate.”
The transaction is expected to increase American Tower’s AFFO per share initially and gradually increase over time.
JPMorgan Chase served as American Tower’s chief financial advisor, and CDX Advisors also advised him. Cleary Gottlieb Steen & Hamilton LLP acted as the chief legal counsel of…
The full story on Benzinga.com
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