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Fly News Breaks for August 16, 2019
Aug 16, 2019 | 13:54 EDT
Wells Fargo analyst Eric Luebchow believes the Bloomberg report of takeover interest in CyrusOne is likely true and that there is a "reasonable probability" the company could be taken private by a group of private infrastructure investors. There are numerous reasons going private would make sense for CyrusOne, including that private infrastructure funds have been paying premiums for hyperscale assets versus where they trade in the public markets, Luebchow tells investors in a research note. He believes a "reasonable" takeout price would be in the $75 per share range. CyrusOne in afternoon trading is up 8%, or $5.39, to $70.10.
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