Zayo Group (NYSE:ZAYO) has pared opening losses today and is back to flat, alongside a rare positive take on the company's adventure in private-equity buyouts.
Management reportedly rejected a bid for the company at $30/share from the consortium led by Blackstone, but Citi's Michael Rollins says that offer shows "interest in the assets."
And the gap between that bid and company value should just "fuel the debate regarding whether Zayo should stay independent and public or reshape the assets and its operations privately," he writes. He's encouraged by Q1 sales prospects with the company believing in execution through its reorg. (h/t Bloomberg)
Previously: Zayo still on decline; Sachem Head presses for sale (Feb. 12 2019)
Previously: Zayo heads lower on report of lower private-equity bid (Feb. 11 2019)
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