A SPAC backed by shareholder activist Starboard Value LP is nearing a deal to combine with data-center provider Cyxtera Technologies, The Wall Street Journal reports.
Starboard Value Acquisition is discussing a deal that would value Cyxtera at around $3.4 billion including debt, sources told the Journal. It could be finalized today assuming the talks don’t fall apart, they said.
Cyxtera’s existing owners, including private-equity firms BC Partners and Medina Capital, plan to roll their equity stakes into the combined company. Read more.
