American Tower Completes Acquisition of CoreSite Realty Corporation
28 Dezember 2021 - 10:30PM
Business Wire
American Tower Corporation (NYSE: AMT) (“American Tower”)
announced today that it has closed its acquisition of CoreSite
Realty Corporation (NYSE: COR) (“CoreSite”) following the
completion of its previously announced tender offer for all
outstanding shares of common stock of CoreSite. American Tower
completed the acquisition of CoreSite through a merger of one of
its wholly owned subsidiaries with and into CoreSite. The closing
was funded by borrowings under American Tower’s revolving credit
facilities and term loans.
Tom Bartlett, American Tower’s Chief Executive Officer stated,
“We are thrilled to welcome CoreSite’s exceptional team to American
Tower and are ready to work together to create long-term
shareholder value. As 5G deployments and wireless and wireline
convergence accelerate, we expect to leverage CoreSite’s highly
interconnected data center facilities and critical cloud on-ramps
to drive strong, consistent, recurring growth while enhancing the
value of our existing tower real estate through emerging edge
compute opportunities.”
The transaction is anticipated to be modestly accretive to
American Tower’s AFFO per Share initially, and increasingly
accretive over time.
J.P. Morgan served as lead financial advisor to American Tower,
who was also advised by CDX Advisors. Cleary Gottlieb Steen &
Hamilton LLP served as principal legal advisor to American Tower.
Evercore served as sole financial advisor to CoreSite and Wachtell,
Lipton, Rosen & Katz served as its principal legal advisor.
About American Tower
American Tower, one of the largest global REITs, is a leading
independent owner, operator and developer of multitenant
communications real estate with a portfolio of approximately
219,000 communications sites and a highly interconnected footprint
of U.S. data center facilities. For more information about American
Tower, please visit the “Earnings Materials” and “Investor
Presentations” sections of our investor relations website at
www.americantower.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains statements about future events and
expectations, or “forward-looking statements,” all of which are
inherently uncertain. We have based these forward-looking
statements on management’s current expectations and assumptions and
not on historical facts. When we use words such as “projects,”
“anticipates,” “intends,” “plans,” “believes,” “estimates,”
“expects,” “forecasts,” “should,” “would,” “could,” “may” or
similar expressions, we are making forward-looking statements.
Examples of these statements include, but are not limited to,
statements regarding the closing of the transaction described
above, American Tower’s ability to successfully integrate the
assets it acquires or utilize such assets to their full capacity,
including the integration of CoreSite following the consummation of
the transaction described above and any expected financial
projections for the real estate portfolio and the impact on
American Tower’s consolidated results. These forward-looking
statements involve a number of risks and uncertainties that could
cause actual results to differ materially from those indicated in
such forward-looking statements, including but not limited to the
effects of the transaction described above on relationships with
employees, other business partners or governmental entities and the
ability of American Tower to realize the benefits it expects from
the transaction described above. For additional important factors
that may cause actual results to differ materially from those
indicated in these forward-looking statements, we refer you to the
information contained in Item 1A of American Tower’s and CoreSite’s
annual reports on Forms 10-K for the year ended December 31, 2020,
each under the caption “Risk Factors” and in other periodic filings
American Tower and CoreSite make with the Securities and Exchange
Commission, including current reports on Form 8-K and quarterly
reports on Form 10-Q.
You should keep in mind that any forward-looking statement we
make in this press release speaks only as of the date on which we
make it. New risks and uncertainties arise from time to time, and
it is impossible for us to predict these events or how they may
affect us. American Tower does not undertake any obligation to
update the information contained in this press release to reflect
subsequently occurring events or circumstances except as may be
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211228005115/en/
ATC: Adam Smith Vice President, Investor Relations Telephone:
(617) 375-7500
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