CyrusOne’s $15 Billion Acquisition by KKR and Global Infrastructure Partners

On November 15, 2021, CyrusOne Inc. (“CyrusOne”), a premier global data center REIT, KKR, a leading investment firm, and Global Infrastructure Partners, a leading infrastructure investor, announced a definitive agreement pursuant to which KKR and GIP will acquire all outstanding shares of common stock of CyrusOne for $90.50 per share in an all‑cash transaction valued at approximately $15 billion, including the assumption of debt. Upon completion of the transaction, CyrusOne will be a privately held company wholly owned by KKR and GIP and CyrusOne’s common stock will no longer be listed on any public market. Cravath is representing CyrusOne in connection with the transaction.

The Cravath team is led by partner Erik R. Tavzel and includes associates Jin‑Kyu Baek, Saagar Kaul, Alexandra J. Valicenti and Christina M. Drakeford on M&A matters; partners William V. Fogg, Stephen M. Kessing and Michael E. Mariani and associate Emily C. Weiss‑Cook on financing matters; partners Andrew W. Needham and Christopher K. Fargo and associates Rebecca L. Fine and Christopher M. Winters on tax matters; partner Matthew J. Bobby, practice area attorney Sarah W. Colangelo and associate David Crampton on executive compensation and benefits matters; partner David J. Kappos, practice area attorney Anthony N. Magistrale and associate Pedraam Mirzanian on intellectual property matters; partner Margaret T. Segall, senior attorney Jesse M. Weiss on regulatory matters; partner Matthew Morreale on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. George Smith also worked on M&A matters, Molly E. Nichols also worked on executive compensation and benefits matters and Geoffrey Xiao also worked on intellectual property matters.