Digital Realty slips after unveiling purchase of Blackstone data center stake, secondary offering
BUZZ-Digital Realty slips after unveiling purchase of Blackstone data center stake, secondary offering ** Digital Realty's DLR.N shares down 2% in extended trading to $186.80 as co to increase its ownership in three Northern Virginia data centers
** DLR says to acquire a majority stake in three fully leased data centers from affiliates of Blackstone BX.N in deal valuing the assets at $7.8 bln
** DLR also announces $2.3 bln share offering by BX
** Offering shares comprise non-voting common stock to be issued to BX only upon the closing of the acquisition
** Morgan Stanley sole underwriter
** DLR shares ended down 1.3% at $190.58 on Mon, trimming YTD gain to 23%
** Austin, Texas-based DLR has ~351.4 mln shares outstanding for about $67 bln market cap
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))