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ZAYO - I Was Wrong On Zayo Assessing What Happens Next
Zayo Group Holdings Inc.
Zayo (ZAYO) finally had a deal materialize. Global investment firms EQT and Digital Colony are buying it for $35 a share. That's below the latest communicated range of $36.50-38.50. It is now trading at a ~5% spread to the takeout price or a ~7% annualized return if it is consummated early March 2020. The annualized return I've assigned may be a little bit conservative. More about that later.
I avoided speculating on these takeout rumors a short while back and that call certainly has not worked out given the evidence of this transaction.