QTS Realty Trust shareholders have approved the company’s acquisition by Blackstone, and the transaction should close by the end of the month.
Blackstone and the data center firm first announced the $10 billion deal in June, and the 40-day "go-shop" period during which QTS could solicit alternative offers expired in July.
QTS stockholders this week voted to approve the acquisition of QTS by affiliates of Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc. and Blackstone Property Partners.
“I thank our stockholders for their strong support of the transformative transaction with Blackstone, which will provide compelling, immediate and certain value to stockholders and position QTS to better serve customers’ expanding data center infrastructure needs,” said Chad Williams, Chairman and CEO of QTS. “With this significant milestone now behind us, we look forward to completing the transaction with Blackstone.”
Stockholders will receive $78 in cash for each share of QTS common stock and the transaction is expected to be completed on August 31.
Founded in 2003 and based in Overland Park, Kansas, QTS is a real estate investment trust that owns more than seven million square feet of data center space in 28 locations across North America and Europe. The company went public in 2012 via an IPO on the NY Stock Exchange.
