Telecity Group Plc

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  • Fri, Jan. 15, 11:25 AM
    | Fri, Jan. 15, 11:25 AM
  • Nov. 13, 2015, 11:34 AM
    | Nov. 13, 2015, 11:34 AM
  • May 29, 2015, 3:30 AM
    • Creating the largest data center player in Europe, Equinix (NASDAQ:EQIX) has agreed to buy U.K. firm Telecity Group (OTCPK:TLEIY) in a deal worth £2.35B ($3.6B).
    • Equinix said the deal would see each Telecity Group shareholder receive 572.5 pence in cash for each share, a 27.3% premium to the firm's closing price on May 6 before talks were announced, as well as 0.0327 new Equinix shares.
    • Previously: Reuters: Equinix closes in on Telecity deal (May. 28 2015)
    | May 29, 2015, 3:30 AM
  • May 28, 2015, 6:30 PM
    • American data-center company Equinix (NASDAQ:EQIX) is in the final stages of a deal to acquire UK firm Telecity Group (OTCPK:TLEIY), and it could be announced as early as tomorrow, Reuters is reporting.
    • There's no news on deal price, though Equinix had reportedly floated the sum of £2.3B ($3.5B) -- 54% in cash, 46% in stock -- in early negotiations.
    • Equinix had to sort out any offer for Telecity by this time next week.
    • Speculation about this deal this month has thrown into question Telecity's own existing agreement to acquire InterXion Holding (NYSE:INXN) for $2.2B.
    • Of 27M square feet of data-center space in Europe, it's estimated that Equinix has 5.3%, Telecity 3.7% and InterXion 3.5% -- so whichever combination emerges will become a key player in a sector that is bound for more M&A activity.
    | May 28, 2015, 6:30 PM
  • May 7, 2015, 8:49 AM
    • UK-based data-center firm Telecity (OTCPK:TLEIY) says it's beginning talks to be taken over by Equinix (NASDAQ:EQIX) -- which is casting doubt on Telecity's already-agreed $2.2B deal to buy InterXion Holding (NYSE:INXN) from earlier this spring.
    • Equinix is up 2.2% in U.S. premarket trading.
    • Telecity's all-stock deal with Dutch firm InterXion prohibited either from talking with others, with few exceptions, though Telecity says it believes fiduciary duty requires it to listen to Equinix.
    • Equinix's offer would be for $3.5B and be 54% cash and 46% stock and establish the combo as Europe's top player in the industry, leaving InterXion a bit in the lurch. For its part, InterXion says it's committed to its "strategically compelling" deal with Telecity.
    • Equinix must decide on an offer for Telecity by June 4.
    • Telecity is up 19.4% in London trading.
    • Earlier: InterXion Holding beats by €0.01, beats on revenue (May. 07 2015)
    | May 7, 2015, 8:49 AM
Company Description
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Sector: Services