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  • Thursday, April 18, 2024

QTS Receives Shareholder Approval for $10B Cash Deal With Blackstone Affiliates

Shareholders at QTS Realty Trust (NYSE: QTS) voted Thursday to approve the data center service provider’s sale to affiliates of The Blackstone Group for approximately $10 billion in cash, or $78 per share.

QTS said Thursday it expects to close the transaction by the end of August and the company’s common and preferred stocks will cease trading on public markets once the deal is completed.

Both parties first announced in June that Blackstone Infrastructure Partners, Blackstone Property Partners and Blackstone Real Estate Income Trust will acquire all outstanding shares of QTS.

The companies expect the senior management team of QTS will continue overseeing its operations and the data center infrastructure provider will maintain its corporate office in Overland Park, Kansas.

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