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Bids, Mergers and Takeovers

TeleCity, Interxion in definitive merger agreement

09 March 2015 07:58

TelecityGroup and Interxion Holding N.V. have entered a definitive agreement on an all-share merger on the same terms as announced on 11 February 2015. The deal will be structured as an offer by TelecityGroup to acquire all the issued and to be issued share capital of Interxion.

The boards of TelecityGroup and Interxion believe the combination of the two businesses is strategically compelling.

Demand for data centre services is evolving rapidly as enterprise data and digital applications migrate to the cloud.

The additional geographic scope and financial scale of the combined business will provide customers with more robust connectivity choices and cloud platforms, and will be better positioned to service the needs of global data centre customers.

The terms of the transaction are as announced on 11 February 2015, with Interxion shareholders receiving 2.3386 new TelecityGroup shares per Interxion share.

As a result, TelecityGroup shareholders will own approximately 55%, and Interxion shareholders approximately 45%, of the combined group.

The primary listing for the combined group will be on the London Stock Exchange with a U.S. listing for TelecityGroup's existing ADR programme contemplated on either the New York Stock Exchange or NASDAQ.

Story provided by StockMarketWire.com

Related Company: TCY

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