CyrusOne(CONE)- NASDAQ
  • Nov. 23, 2015, 8:34 PM
    • Data center operators probably aren't in a buying mood for facilities that might be for sale -- particularly CenturyLink's, Macquarie suggests in a new report -- but private-equity firms could come in with bids.
    • CenturyLink (NYSE:CTL), the nation's third-largest local phone company, plans to sell 59 centers worldwide, and while Macquarie had thought Digital Realty Trust (NYSE:DLR) would get involved, analyst Kevin Smithen has changed his view after attending an industry trade show.
    • He now doubts that a buyer will come from among Digital Realty, DuPont Fabros (NYSE:DFT), Equinix (NASDAQ:EQIX), CyrusOne (NASDAQ:CONE), CoreSite or QTS Realty, with a limited "pool of logical and capable buyers" for assets from CenturyLink, or from Verizon (NYSE:VZ) or AT&T (NYSE:T). But near term, "private equity seems like the most likely acquirer of assets this size."
    • While CenturyLink assets are for sale, Verizon CFO Fran Shammo tried to shut down "speculative" reports that the company would pursue $10B in asset sales.
    | Nov. 23, 2015, 8:34 PM | 3 Comments
  • Jun. 23, 2015, 7:43 PM
    • Cincinnati Bell (NYSE:CBB) sealed a deal wth CyrusOne (NASDAQ:CONE) to sell it 4.3M units of their operating partnership, CyrusOne LP, for $28.41 per unit.
    • Correspondingly, CyrusOne priced its public offering of 11.3M shares at $30/share. Underwriters have an option for an additional 1.695M shares.
    • Cincinnati Bell will get a distribution on its OP units of $0.315/unit; so the purchase price per unit will be equal to Cyrus One's net proceeds from its share sale less that $0.315/unit.
    • After hours: CyrusOne +0.3% to $30.18. Cincinnati Bell closed today down 0.5% to $4.07.
    • Previously: CyrusOne -1.9%, buying out more of partnership with Cincinnati Bell (Jun. 22 2015)
    | Jun. 23, 2015, 7:43 PM
  • Jun. 22, 2015, 5:34 PM
    • CyrusOne (NASDAQ:CONE) is off 1.9% after hours as it announces an 11.3M-share public offering (with 1.695M greenshoe), with proceeds set to go to operating partnership CyrusOne LP, which will finance a previously announced deal for Cervalis Holdings.
    • Any remainder will be used to buy additional operating partnership units from a subsidiary of Cincinnati Bell (NYSE:CBB), which plans to sell 4.3M OP units (with another 1.695M units in greenshoe) to CyrusOne.
    • The moves will result in Cincinnati Bell owning between 11.3% and 13.7% of CyrusOne. A previous set of transactions had reduced CBB's ownership to 21.7%.
    • Previously: Cincinnati Bell closes sale of partnership interest to CyrusOne (Apr. 07 2015)
    • Previously: Cincinnati Bell cashing out of part of CyrusOne investment; stock down 2.8% (Mar. 30 2015)
    | Jun. 22, 2015, 5:34 PM
  • Apr. 7, 2015, 5:11 PM
    • Cincinnati Bell (NYSE:CBB) closed its sale of 14.26M operating partnership units to data-center property owner CyrusOne (NASDAQ:CONE) for $29.8752/unit.
    • CyrusOne closed its offering of the same number of shares of common stock at a price of $31.12 to the public. With the deals done, Cincinnati Bell ends up owning about 21.7% of CyrusOne.
    • The operating partnership, CyrusOne LP, was formed July 31, 2012.
    • After hours, CONE up 1.1%.
    • Previously: Cincinnati Bell cashing out of part of CyrusOne investment; stock down 2.8% (Mar. 30 2015)
    | Apr. 7, 2015, 5:11 PM