American Tower Corp. (AMT) announces $10.1 billion acquisition of CoreSite Realty.

American Tower Corporation (AMT) announced today that it has agreed to acquire CoreSite Realty Corp. (COR) for $170.00/share in cash.  Including assumed debt, the transaction values CoreSite at approximately $10.1 billion.

Under the terms of the agreement, American Tower will commence a tender offer for all of the shares of common stock of CoreSite, which will be followed by a merger to acquire any untendered shares for the same price payable in the tender offer. The tender offer is subject to the tender of at least a majority of the outstanding shares of common stock of CoreSite and certain other customary conditions.  AMT said that it expects the transaction to close by the end of 2021 or shortly thereafter.

American Tower Corporation is an international owner of wireless cell tower properties with a total managed portfolio of approximately 217,000 communications sites. As of September 30, 2021, the company's properties were located in the U.S. & Canada (20%), Asia-Pacific (34%), Africa (10%), Europe (14%), and Latin America (22%). As of September 30, 2021, AMT had a total market capitalization of approximately $155 billion.