A number of investors have expressed their interest in buying Zayo, which recently posted lower results for the third quarter and announced plans to split itself into two companies, Bloomberg reported, citing sources with knowledge of the matter. Bloomberg noted that shares jumped 20 percent in New York on 19 November, and that they were still rising. Still, no deal can be confirmed at this point.
Blackstone Group and Stonepeak are said to be interested while funds managed by KKR & Co, I Squared Capital, GTCR and Charlesbank Capital Partners are part of a group looking to potentially take Zayo private.
Activist investment firm Jana Partners owns 1.7 million shares, or 0.7 percent of Zayo. Jana reduced its position in the company by about 415,000 shares in Q3, according to data compiled by Bloomberg.
