Shares of Data Center Operators NEXTDC, Infratil Rise on Blackstone-AirTrunk Megadeal

MT Newswires Live09-05

Shares of NEXTDC (ASX:NXT) and Infratil (ASX:IFT, NZE:IFT) rose in intraday trading on Thursday on the heels of Macquarie Group's (ASX:MAQ) announcement that it will sell AirTrunk to private capital giant Blackstone.

The deal has an implied enterprise value of AU$24 billion, putting it on pace to become this year's biggest acquisition of an Australian company.

The price tag for the buy-out of Asia Pacific's largest data center is expected to bode well for the valuation of AirTrunk's data center rivals.

Shares of data center operator NEXTDC were up 8% in recent trade. Infratil, which also operates a data center, saw shares up nearly 3%.

Blackstone funds and the Canada Pension Plan Investment Board's offer reportedly trumped a bid from a rival consortium that consisted of IFM Investors, DigitalBridge, Global Infrastructure Partners, Silver Lake, and MGX, according to a Sept. 3 report by the Australian Financial Review.

Price (AUD): $17.37, Change: $+1.3, Percent Change: +8.09%

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