Cencora Inc. Stock Price, News & Analysis

American Tower Corporation (NYSE: AMT) announced the expiration of its tender offer for CoreSite Realty Corporation (NYSE: COR) shares, completing the acquisition via a merger with its subsidiary, Appleseed Merger Sub LLC. The tender offer, which ended on December 27, 2021, resulted in 31,443,126 shares tendered, accounting for approximately 71.15% of CoreSite's outstanding shares. CoreSite will merge into American Tower on December 28, 2021, with its shares ceasing to trade on the NYSE. Each CoreSite share will convert to $170.00 in cash, matching the tender offer price.

CoreSite Realty Corporation (NYSE:COR) has announced that its VA3 data center is now powered by 100% renewable energy through Dominion Energy's 100% Renewable Energy Program. This initiative supports local renewable energy development in the Northern Virginia market. CoreSite aims to assist its customers in achieving their sustainability goals by offering a diverse energy portfolio, including solar, hydroelectric, and biomass sources. The VA3 facility, part of a larger data center campus, provides significant capacity and connectivity to major cloud providers.

American Tower Corporation (NYSE: AMT) has launched a tender offer for all outstanding shares of CoreSite Realty Corporation (NYSE: COR), proposing $170.00 per share in cash. This move is part of a merger agreement announced on November 15, 2021. The tender offer will expire on December 27, 2021, unless extended, and is contingent upon acquiring a majority of CoreSite's shares. The CoreSite board recommends that shareholders accept the offer. Details regarding the tender offer and related documents are available from the SEC and other sources.

CoreSite Realty Corporation (NYSE:COR) has been named a 2021 Northern Virginia Technology Council (NVTC) Tech 100 Company, recognizing its innovative contributions to the tech industry. Additionally, CoreSite’s SVP of General Management, Juan Font, received the 2021 NVTC Tech 100 Executive accolade. The Tech 100 list highlights 64 tech companies and 33 executives who have demonstrated leadership and innovation in Northern Virginia’s tech sector. CoreSite supports over 350 enterprise and government customers with secure multi-cloud hybrid IT solutions.

CoreSite Realty Corporation (NYSE:COR) announced a cash dividend of $1.27 per share for Q4 2021, maintaining the same amount as the previous quarter. This dividend will be distributed on December 13, 2021, to shareholders who are on record by December 2, 2021. The company is known for its high-performance data center campuses, providing cloud access and interconnection solutions across major U.S. metropolitan areas.

American Tower announced its acquisition of CoreSite Realty for $170.00 per share, totaling approximately $10.1 billion including debt. The merger aims to enhance American Tower’s offerings in the evolving 5G landscape, accelerating growth in mobile edge computing. CoreSite has shown impressive financials with $655 million in annual revenue and strong EBITDA margins, and has experienced double-digit growth over five years. The deal is expected to close by the end of 2021, proving accretive to American Tower’s AFFO initially and more so over time.

American Tower Corporation (AMT) announced it will acquire CoreSite Realty Corporation (COR) for $170 per share in cash, totaling approximately $10.1 billion, including debt repayment. This strategic move aims to create a comprehensive communications real estate platform, enhancing the companies' positions in the growing 5G market. CoreSite’s strong performance, with annual revenue of $655 million and an EBITDA of $343 million, coupled with American Tower's global reach, is expected to accelerate growth and broaden service offerings. The transaction is projected to close by the end of 2021.

CoreSite Realty Corporation (NYSE:COR) is co-presenting the Infinity Festival 2021 in Hollywood, CA from November 2-4. The festival merges storytelling and technology, showcasing innovations in media and entertainment, featuring both in-person and virtual events. CoreSite aims to demonstrate how its interconnection solutions support media clients in monetizing their business. 5G technology will be highlighted, with discussions on its pivotal role in immersive media. Key speakers include CoreSite's Brian Eichman, presenting on 5G's Starring Role in Immersive Media on November 3.

CoreSite Realty Corporation (NYSE:COR) reported strong Q3 2021 financial results, showcasing a 6.4% year-over-year revenue growth to $163.9 million. Net income remained stable at $0.50 per diluted share. Notably, adjusted EBITDA rose 5.2% to $85.7 million, while Funds From Operations (FFO) increased 4.5% to $1.39 per share. The company renewed 296 leases, reflecting an increase in cash and GAAP rent. Updated guidance for capital expenditures is now $140 million to $150 million, a reduction from the earlier range. Overall, CoreSite's strategic leasing and development activities remain robust.