May 11, 2022
Switch, Inc. (NYSE: SWCH) has announced that it has entered into a definitive agreement with DigitalBridge Group, Inc. (NYSE: DBRG), under which DigitalBridge Partners II, the value-added digital infrastructure equity strategy of the investment management platform of DigitalBridge, and an affiliate of global infrastructure investor IFM Investors will acquire all outstanding common shares of Switch for US$34.25 per share in an all-cash transaction valued at approximately US$11 billion, including the assumption of debt. The transaction is subject to approval by Switch stockholders and customary closing conditions and is expected to close in the second half of 2022.
Latham & Watkins LLP advised the Special Committee of the Board of Directors of Switch in the transaction with a corporate deal team led by Orange County/New York partner Charles Ruck and Orange County partner Daniel Rees, with associates Brian Umanoff, Tiana Baghdikian, Jack McKay, Jack Vanderford, Allison Blair, and Erik Jensen. Advice was also provided on capital markets matters by Orange County partner Shayne Kennedy; on benefits and compensation matters by Los Angeles partner Michelle Carpenter and Washington, D.C. counsel Laura Szarmach, with associate Vanessa King; on IP matters by Orange County counsel David Kuiper; on tax matters by Century City partner Pardis Zomorodi, with associate Brian Rogers; on litigation matters by Los Angeles partner Joshua Hamilton and Orange County partner Michele Johnson; on antitrust matters by Washington, D.C. partner Jason Cruise and Washington, D.C. counsel Patrick English, with associate Alexandra Kandalaft; on real estate matters by San Diego partner James Mann, with associate Achraf Farraj; on finance matters by Los Angeles partner Mark Morris, New York partner Kendra Kocovsky, and Bay Area partner Michelle Gross, with associate Adriana Beach; on CFIUS/FCC matters by Washington, D.C. partner James Barker; and on FERC matters by Washington, D.C. partner Natasha Gianvecchio.