Summary
Equinix, Inc. (EQIX) filed an 8-K on January 29, 2010, reporting that the stockholders of Switch and Data Facilities Company, Inc. approved the merger agreement. This pivotal event signifies a major step towards Equinix's acquisition of Switch and Data, a transaction that was previously announced and is expected to significantly expand Equinix's footprint and capabilities in the data center colocation market. The filing also provides details regarding the election deadline for Switch and Data stockholders to choose their merger consideration and outlines the remaining conditions for closing the deal, including antitrust approvals. Investors should monitor the satisfaction of these closing conditions as they are crucial for the completion of this significant strategic acquisition.
Key Highlights
- 1Stockholders of Switch and Data Facilities Company, Inc. have approved the merger agreement with Equinix.
- 2The merger, if completed, will see Switch and Data merge with Equinix's wholly-owned subsidiary, Sundance Acquisition Corporation.
- 3Switch and Data stockholders have an election deadline to choose their merger consideration.
- 4Revocation of elections is permitted up to two business days prior to the merger closing date.
- 5Completion of the merger is contingent upon satisfying conditions, including the expiration or termination of the Hart-Scott-Rodino antitrust waiting period.
- 6Equinix has previously filed a Form S-4 registration statement containing a proxy statement/prospectus for the transaction.
- 7Investors are strongly encouraged to read the proxy statement/prospectus for detailed information about the proposed transaction.