Slaughters and Skadden take lead roles on telecoms takeover
US fund Fidelity offers to buy out minority shareholders of data centre provider Colt and take the company private
June 22, 2015 at 05:00 AM
2 minute read
Slaughter and May and Skadden Arps Slate Meagher & Flom have secured lead roles as US fund manager Fidelity has offered to buy out the minority shareholders of London-listed telecoms provider Colt Group in an offer that values the company at £1.7bn.
Fidelity is currently Colt's major shareholder and helped to both found the fibre-optic network provider and take it public.
Colt's independent directors offered no recommendation on whether shareholders should accept the offer or not but claimed that it undervalued the business.
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