Equinix (EQIX) Surges on REIT Conversion Approval
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Equinix (EQIX) Approves Conversion to REIT
September 13, 2012 9:02 AM EDTEquinix, Inc. (Nasdaq: EQIX) has approved a plan for Equinix to pursue conversion to a real estate investment trust (REIT). Equinix's Board reached this decision after thorough analysis of various structures, including alternative financing, capital, and tax strategies, designed to maximize long-term shareholder value. If Equinix is ultimately successful in the conversion process, Equinix expects to elect REIT status for its taxable year beginning January 1, 2015.
Peter Van Camp , Executive Chairman of Equinix , said, "We are committed to creating long-term shareholder value. The REIT structure supports this objective and positions us to achieve profitable, strategic... More
