American Tower to Acquire CoreSite for $10.1 Billion
November 15, 2021
Cleary Gottlieb is representing American Tower Corporation (American Tower), which announced on November 15, 2021, that it has entered into a definitive agreement with CoreSite Realty Corporation (CoreSite) through which American Tower will acquire CoreSite for $170 per share in cash.
The total consideration for the transaction, including the assumption and/or repayment of CoreSite’s existing debt at closing, is approximately $10.1 billion. The transaction, which was unanimously approved by the boards of directors of both companies, is expected to create a differentiated, comprehensive, and interconnected communications real estate platform optimally positioned to benefit from the convergence of wireline and wireless networks amid accelerating global 5G deployments.
For more information, please see the press release here.