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Fly News Breaks for December 20, 2019
Dec 20, 2019 | 06:27 EDT
Since the Interxion (INXN) and Digital Realty (DLR) merger was announced, the exchange ratio is trading in a range of 1% below and above the offered value from Digital Realty, inferring the market may be expecting either greater value from Digital Realty or a competing offer, Citi analyst Michael Rollins tells investors in a research note. He believes Digital Realty can get the deal done at the current terms or "modestly" raise the offer in order to get the requisite support of Interxion shareholders. The analyst remains a buyer of both stocks with a new preference for Interxion "given the positive optionality around the deal dynamics."
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