Infrastructure investment firm DigitalBridge Group and Australia-based infrastructure manager IFM Investors are partnering to acquire US data center operator Switch in an $8.4B deal.
In a joint statement, the companies said they offered $34.25 per share for Switch, representing a 19% premium on Switch's closing price as of March 18. The deal is expected to close in the second half of the year.
According to a report in Bloomberg, the DigitalBridge consortium beat out a rival bid from Brookfield Asset Management.
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