SWCH - Switch ticks higher on report may be worth as much as $10B in takeover

Switch Inc. (NYSE:SWCH) gained 0.8% on a report that the data-center operator could be worth as much as $10 billion in a takeover after a Bloomberg story last week that the company is exploring its options. Switch (SWCH) may be worth between $7.5 billion and $8 billion or it could see as much as $10B, according to a TMT Finance item, which cited sources. Switch's current market cap is $7.5 billion. Goldman Sachs and Morgan Stanley are working with Switch as it reviews its options, TMT Finance said. The latest report comes after Switch announced in November that it's board approved a plan for the company to covert into a real estate investment trust, or REIT, like many other data-center operators. The change followed a push from activist Elliott Management. Infrastructure funds and private equity firms are likely to be potential buyers of Switch (SWCH), TMT Finance reported. One source told the publication that a

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Switch ticks higher on report may be worth as much as $10B in takeover