Bulletin: Equinix Inc. Ratings Are Unaffected By The Announcement Of Its Possible Acquisition Of TelecityGroup

NEW YORK (Standard&Poor's) May 7, 2015--Standard&Poor's Ratings Services said today that there is no immediate ratings impact on Equinix Inc. (BB/Stable/--) following the announcement that the company has approached U.K.-based data center operator TelecityGroup plc regarding a possible offer to acquire TelecityGroup for 1,145.0 pence per share or £2.35 billion. As a result of Equinix's proposal, TelecityGroup's proposed merger with Netherlands-based data center operator Interxion Holding B.V. (Interxion) is less certain. Under U.K. takeover code, Equinix will have 28 days to make a firm offer for TelecityGroup or confirm that it does not intend to make an offer. While details of the current proposal are unknown, Telecity has disclosed that the proposed £2.35 billion valuation will

...NEW YORK (Standard & Poor's) May 7, 2015--Standard & Poor's Ratings Services said today that there is no immediate ratings impact on Equinix Inc. (##/Stable/--) following the announcement that the company has approached U.K.-based data center operator TelecityGroup plc regarding a possible offer to acquire TelecityGroup for 1,145.0 pence per share or ú2.35 billion. As a result of Equinix's proposal, TelecityGroup's proposed merger with Netherlands-based data center operator Interxion Holding B.V. (Interxion) is less certain. Under U.K. takeover code, Equinix will have 28 days to make a firm offer for TelecityGroup or confirm that it does not intend to make an offer. While details of the current proposal are unknown, Telecity has disclosed that the proposed ú2.35 billion valuation will consist of approximately 54% cash and 46% stock consideration. Based on this mix, we estimate that pro forma adjusted debt (including pro forma operating leases) to EBITDA (before synergies) could increase...

Bulletin