Home Trending Stocks QTS Realty Trust, Inc. (QTS) Stock Surges Following Acquisition by Blackstone

QTS Realty Trust, Inc. (QTS) Stock Surges Following Acquisition by Blackstone

QTS Realty Trust, Inc. (QTS) stock prices surged by an impressive 21.09% shortly after market trading commenced on June 7th, 2021, bringing the price per share up to USD$78.09 early on in the trading day.

Acquisition by Blackstone

The company announced on June 7th, 2021 that it had entered into a definitive agreement that will see all outstanding shares of QTS’ common stock being acquired by Blackstone. Each share has been priced at USD$78.00 per share, with the transaction being executed entirely with cash, for a total valuation of almost USD$10 billion, which includes the assumption of outstanding debt. The purchase price represents a premium of 21% to QTS’ closing share price as of June 4th, 2021, as well as a 24% premium to the volume-weighted average price of the company’s shares over the last 90 days.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Closing of Transaction

Having been unanimously approved by QTS’ Board of Directors, the deal is expected to close in the latter half of 2021. The acquisition by Blackstone is a testament to the company’s success, with the added resources from Blackstone resulting in an expansion of the reach of data center solutions to address existing and new customers. Following the completion of the transaction, it is forecasted that QTS will continue to be led by its existing senior management team, as well as maintain its corporate headquarters in Kansas.

Go-Shop Period

Included in the definitive merger agreement is a 40-day “go-shop” period which allows QTS to actively solicit and consider alternative acquisition proposals. With the period expiring on July 17th, 2021, the company has the right to terminate the definitive merger agreement to enter into a superior proposal, subject to certain terms and conditions of the definitive merger agreement with Blackstone.

Scope of Collaboration

Blackstone reiterated their focus on investing in assets that are benefitting from strong, secular tailwinds, an example of which is the rapid digitalization of data. With QTS being a leading provider of data center solutions with a stellar portfolio of high-quality assets in the desirable markets, it was an obvious candidate for Blackstone to acquire.  The two companies are hopeful for the opportunities their joint resources afford them.

Future Outlook for QTS

Armed with an arsenal of additional resources from Blackstone, the QTS platform is set to skyrocket. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Opgen Inc. (OPGN) stock surged during pre-market session. What’s driving it high?

Opgen Inc. (NASDAQ: OPGN) stock declined by 1.84% at the last close whereas the OPGN stock price gains by 22.07% in the pre-market trading...

Vista Gold Corp. (VGZ) stock soars during pre-market trading. Here’s what you should know

Vista Gold Corp. (NASDAQ: VGZ) stock gained by 17.65% in the pre-market trading session. Vista is a project developer with a gold rating. The...

Novan Inc. (NOVN) stock soars during pre-market trading. What’s driving it high?

Novan Inc. (NASDAQ: NOVN) stock gained by 62.39% at last close whereas the NOVN stock price surged by 0.82% in the pre-market trading session....

REV Group Inc. (REVG) stock rises during pre-market trading. Let’s see why?

REV Group Inc. (NASDAQ: REVG) stock declined by 0.94% at the last close while the REVG stock price gains by 4.1% in the pre-market...

Tyme Technologies, Inc. (TYME) Stock Trends downwards Following Strong Q4 2021 Financials and Progress in OASIS Trial

Tyme Technologies, Inc. (TYME) stock prices was down by -6.92% shortly after market trading commenced on June 11th, 2021, bringing the price per share...

Document Security System Inc. (DSS) stock plunged during after-hour session. Here’s to know the update

Document Security System Inc. (NASDAQ: DSS) stock declined by 6.76% at last close while the DSS stock price falls by 18.48% in the after-hours...

Torchlight Energy Resources Inc. (TRCH) stock soars during after-hour session. Let’s see why?

Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock gained by 14.74% at last close while the TRCH stock price further rose by 16.48% in the...

RAPT Therapeutics Inc. (RAPT) stock soars during current market trading. Stated below is the update

RAPT Therapeutics Inc. (NASDAQ: RAPT) stock gained by 85.46% in the current market trading. RAPT Therapeutics is a clinical-stage immunology-based pharmaceutical business focusing on...

Related News

Opgen Inc. (OPGN) stock surged during pre-market session. What’s driving it high?

Opgen Inc. (NASDAQ: OPGN) stock declined by 1.84% at the last close whereas the OPGN stock price gains by 22.07% in the pre-market trading...

Vista Gold Corp. (VGZ) stock soars during pre-market trading. Here’s what you should know

Vista Gold Corp. (NASDAQ: VGZ) stock gained by 17.65% in the pre-market trading session. Vista is a project developer with a gold rating. The...

Novan Inc. (NOVN) stock soars during pre-market trading. What’s driving it high?

Novan Inc. (NASDAQ: NOVN) stock gained by 62.39% at last close whereas the NOVN stock price surged by 0.82% in the pre-market trading session....

REV Group Inc. (REVG) stock rises during pre-market trading. Let’s see why?

REV Group Inc. (NASDAQ: REVG) stock declined by 0.94% at the last close while the REVG stock price gains by 4.1% in the pre-market...

Tyme Technologies, Inc. (TYME) Stock Trends downwards Following Strong Q4 2021 Financials and Progress in OASIS Trial

Tyme Technologies, Inc. (TYME) stock prices was down by -6.92% shortly after market trading commenced on June 11th, 2021, bringing the price per share...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam