Why Zayo Group Stock Surged 52% in 2019
Shares of Zayo Group (NYSE: ZAYO) gained 51.7% last year, according to data provided by S&P Global Market Intelligence.
The stock rebounded sharply to start the year, after the share price plunged in the second half of 2018. In July, shareholders approved a deal for the communications infrastructure company to be acquired by a group of investors led by Digital Colony Partners and EQT Infrastructure IV Fund.
The deal calls for shareholders to receive $35 per share in cash, or a total value of $14.3 billion, including the assumption of $5.9 billion of Zayo's net debt.
Source Fool.com
