Stock Market Today, Dec. 29: DigitalBridge Group Surges on Deal With SoftBank to Acquire the Company for $4 Billion

DigitalBridge Group (NYSE:DBRG), a global digital-infrastructure investor-operator, closed Monday at $15.27, up 9.7%. DigitalBridge Group IPO'd in 2014 and has fallen 71% since going public. Trading volume reached 86 million shares, about 14 times higher than its three-month average of 6 million shares.Monday’s action centered on reports that SoftBank (OTC:SFTB.Y) agreed to acquire DigitalBridge for $16 per share in cash. Investors are watching how the merger review and shareholder response unfold. The S&P 500 (SNPINDEX:^GSPC) slipped 0.33% to 6,907, while the Nasdaq Composite (NASDAQINDEX:^IXIC) fell 0.50% to 23,474. Within digital infrastructure peers, Digital Realty Trust (NYSE:DLR) and Equinix (NASDAQ:EQIX) inched 0.44% and 0.22% higher, respectively, as investors assess ongoing data center demand and long-term leasing agreements.Three weeks after it was first rumored that Japanese next-gen technology conglomerate SoftBank was interested in acquiring DigitalBridge, an official offer of $16 per share was announced this morning. As SoftBank continues to build out the digital infrastructure needed to fuel AI's unstoppable growth, DigitalBridge's portfolio of data centers, cell towers, and edge computing infrastructure appears to be a perfect fit.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool