Summary
Digital Realty Trust, Inc. (DLR) has completed its acquisition of InterXion Holding N.V. (INXN) through an exchange offer and subsequent legal merger, finalizing the transaction as of March 12, 2020. The exchange offer successfully garnered approximately 92.3% of INXN's outstanding capital, satisfying the conditions for closing. This strategic move significantly expands DLR's global data center footprint. As part of the acquisition, DLR issued approximately 51 million shares of its common stock, representing about 20% of its post-issuance outstanding shares, to fund the transaction and related equity award conversions. In conjunction with the acquisition, DLR has also appointed Jean F.H.P. Mandeville to its Board of Directors, adding independent expertise. Furthermore, DLR has addressed INXN's outstanding debt, with the company assuming and subsequently redeeming all €1.2 billion in aggregate principal amount of INXN's 4 3/4% Senior Notes due 2025, ensuring a clean financial structure post-merger.
Key Highlights
- 1DLR has successfully completed the acquisition of InterXion Holding N.V. (INXN) via an exchange offer and subsequent merger, effective March 12, 2020.
- 2The exchange offer resulted in the tender of approximately 92.3% of INXN's outstanding capital.
- 3DLR issued approximately 51 million shares of its common stock, representing roughly 20% of its outstanding shares post-issuance, to finance the acquisition.
- 4Jean F.H.P. Mandeville has been appointed as an independent director to DLR's Board of Directors.
- 5DLR has fully redeemed INXN's €1.2 billion in aggregate principal amount of 4 3/4% Senior Notes due 2025.
- 6Equity awards for INXN employees and directors have been converted into DLR restricted stock units (RSUs) or received offer consideration.
- 7The transaction is expected to enhance DLR's global data center presence and capabilities.