Weil Advises Iron Mountain on $2.1B Aussie Acquisition
The Boston-based data storage company has struck a deal to buy Australia's Recall Holdings, with Sidley Austin acting for the target.
April 29, 2015 at 01:46 AM
1 minute read
Weil, Gotshal & Manges is advising U.S. document and data storage company Iron Mountain Inc. on its proposed $2.1 billion acquisition of Australia's Recall Holdings Ltd.
Recall, which also operates in the data storage and protection business, will receive a mix of cash and stock from Iron Mountain. The announcement follows Iron Mountain's previous offer of $1.8 billion, in December, that Recall rejected for being too low.
In a statement, Iron Mountain said the two companies are conducting due diligence and negotiating other terms for the deal but that they hope to sign a definitive merger agreement “within three to four weeks.” The boards of directors at both companies will recommend that shareholders approval the transaction.
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