Zayo shareholders approve merger with Digital Colony

Monday July 29, 2019 0 comments Tags: Boulder, Zayo Group Holdings, Digital Colony Partners, Dan Caruso

BOULDER -- Zayo Group Holdings, Inc. (NYSE: ZAYO) announced its shareholders approved all proposals related to the definitive merger agreement to be acquired by affiliates of Digital Colony Partners and the EQT Infrastructure IV fund.

At a special meeting of Zayo’s shareholders held in Boulder, a majority of shares outstanding were cast in favor of approving the merger agreement, the company said.Zayo_logoUSE

“Today’s favorable shareholder vote supports our view that this transaction is a very good outcome for shareholders and will enable Zayo to accelerate its growth and strengthen its industry leadership,” said Dan Caruso, Zayo’s chairman and CEO

“The entire Zayo team is excited to work with EQT and Digital Colony to leverage our fiber assets to continue to fuel global innovation.”

Upon closing of the transaction, Zayo shareholders will receive $35 in cash per share of Zayo's common stock in a transaction valued at $14.3 billion, including the assumption of $5.9 billion of Zayo’s net debt obligations.

Closing of the deal is subject to customary conditions, including regulatory clearance. The transaction is expected to close in the first half of calendar 2020.