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Switch gains after DigitalBridge agrees to purchase for about $11B in cash (update)

May 11, 2022 8:48 AM ETDigitalBridge Group, Inc. (DBRG)BN, BN:CABy: Joshua Fineman, SA News Editor9 Comments

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Update 8:48am: Adds statement from Elliott Management.

Switch (NYSE:SWCH) rose 8.9% in premarket trading after DigitalBridge (NYSE:DBRG) agreed to purchase the data-center operator for about $11 billion in cash, including the assumption of

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Comments (9)

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Was the market expecting DBRG to go it alone to finance the transaction thus discounting shares leading up to the announcement?
@cwebjohn I think that’s exactly what happened. I told some yesterday that if I had a million dollars I would buy DBRG with it at $5.40.
So is it still converting to a REIT? And, is DBRG still on track to converting to a C Corp? Anybody? Thanks.
Scotts Miracle-Gro Sucks profile picture
Glad I held on to this from the beginning, good for Switch
Hopefully they didn’t overpay, but would assume Ganzi did his homework. SWCH had decent earnings and their CEO said sales continue at record levels.

DBRG is becoming very large, very quickly. Continue to add at these levels.

DBRG’s quick access to cash through it’s managed funds is amazing.
@DadRuss72 Ganzi said on the recent earnings call they were built for times like these. I guess he had some deals that fell into place once other buyers could not slice the pie.
SWCH has very unique locations (Reno next to Tesla battery factory) and architecture/design advantages—this is a smart buy—and SWCH is growing. Gary A, who trashed SWCH repeatedly, never looked under the covers. A good deal for both companies in a unique time.
@cwebjohn I heard him say that too. If memory serves he said “they aren’t gonna do a deal just to do a deal, only if it made sense. “. Something like that.

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