June 9, 2017
Digital Realty (NYSE: DLR), a leading global provider of data center, colocation and interconnection solutions, and DuPont Fabros (NYSE: DFT) a leading owner, developer,operator and manager of enterprise-class, carrier-neutral, large scale multi-tenant data centers, have announced that they have entered into a definitive agreement under which DuPont Fabros will merge with Digital Realty in an all-stock transaction. The consummation of the transaction is subject to customary closing conditions, including approval by the shareholders of Digital Realty and DuPont Fabros. Under the terms of the agreement, DuPont Fabros shareholders will receive a fixed exchange ratio of 0.545 Digital Realty share per DuPont Fabros share, for a transaction valued at approximately $7.6 billion in enterprise value. The transaction is expected to close in the second half of 2017.
Latham & Watkins LLP represents Digital Realty in the transaction with a corporate deal team led by Los Angeles/New York partner Julian Kleindorfer, New York/Orange County partner Charles Ruck and Los Angeles/Orange County counsel David Wheeler, with associates Michael Montgomery, Katherine Zhang and Brian Ahn in Los Angeles. Advice is also being provided on tax matters by partners Michael Brody and Ana O’Brien, with associates Eric Song and Brian Rogers in Los Angeles; on real estate matters by partners David Meckler and Hilary Shalla, with associate Meagan Licata in Orange County; on benefits and compensation matters by partner David Taub in Los Angeles, with associates Julie Crisp in San Francisco and Jack Stratton in Los Angeles; on finance matters by partner Glen Collyer in Los Angeles; and on environmental matters by partner Christopher Norton in Orange County.