Zayo sets shareholder vote for acquisition deal
CEO Dan Caruso would get $22.2 million golden parachute
BOULDER — Zayo Group Holdings Inc. (NYSE: ZAYO) has set the date for shareholders to vote on whether or not to sell the company for $14.3 billion.
The Boulder-based bandwidth provider agreed to be acquired by affiliates of Digital Colony Partners and the EQT Infrastructure IV fund in May, which would take the company off the public markets.
The deal, if completed, would pay out $35 per share to stockholders. The two companies expect an approved acquisition to close sometime in the first half of 2020, according to filings with the U.S. Securities and Exchange Commission.
SPONSORED CONTENT
Federal District Court Rules Corporate Transparency Act Unconstitutional . . . But Most Small Businesses Must Still Comply
Lyons Gaddis Real Estate and Business Attorney Cameron Grant shares important details of the Corporate Transparency Act (CTA).
Shareholders will vote on the acquisition agreement itself, along with a “golden parachute” compensation package for Zayo’s executive team. CEO Dan Caruso would earn just over $22.2 million in equity, healthcare benefits for six months after the deal close and 50 percent of his unused corporate jet expense if the package is approved. CFO Matt Steinfort would earn just over $7.1 million in equity, while COO and Zayo Networks president Jack Waters would receive $45,055 in cash and just over $5.5 million in equity.
The special meeting will begin at 8 a.m. MDT July 26. A webcast will be made available at www.virtualshareholdermeeting.com/zayo2019sm, where shareholders will also cast their votes online.
BOULDER — Zayo Group Holdings Inc. (NYSE: ZAYO) has set the date for shareholders to vote on whether or not to sell the company for $14.3 billion.
The Boulder-based bandwidth provider agreed to be acquired by affiliates of Digital Colony Partners and the EQT Infrastructure IV fund in May, which would take the company off the public markets.
The deal, if completed, would pay out $35 per share to stockholders. The two companies expect an approved acquisition to close sometime in the first half of 2020, according to filings with the U.S. Securities and Exchange…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!