American Tower this week announced that it has closed its acquisition of CoreSite Realty 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.
The transaction is anticipated to be modestly accretive to American Tower’s AFFO per Share initially, and increasingly accretive over time.
Tom Bartlett, American Tower’s Chief Executive Officer
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.
