(The Hosting News) – Equinix, Inc., the global interconnection and data center company, today announced that acting through its Japanese subsidiary it has commenced a cash tender offer for all issued and outstanding shares of Tokyo-based Bit-isle Inc. (President and CEO: Kohei Terada, TSE: 3811). The offer price is JPY922 per share, in an all cash transaction totaling 33.3 billion Japanese Yen or approximately $280 million U.S. dollars. The tender offer period is expected to run from September 9, 2015 to October 26, 2015, unless the tender offer period is extended. The offer is conditioned on, among other things, the tender by Bit-isle shareholders of more than 66 2/3% of the Bit-isle shares. If the conditions to the tender offer are satisfied, Equinix will move forward to acquire any remaining shares under Japanese corporate law and expects to complete the acquisition of Bit-isle by early 2016. The Board of Directors of Bit-isle has agreed to endorse the tender offer. Additionally, the major shareholders of Bit-isle, Warehouse Terrada, Mr. Kohei Terada and Mr. Yasunobu Terada, have agreed to tender all of their shares, representing 29.74% of Bit-isle shares on a fully diluted basis.
Equinix Plans to Expand Data Center Footprint in Japan through Acquisition of Bit-isle
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