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Telecity, Interxion deal in doubt as Equinix weighs in

Reuters - UK Focus

LONDON, May 7 (Reuters) - British data centre provider Telecity Group (LSE: TCY.L - news) said it had decided to enter into takeover talks with Equinix (NasdaqGS: EQIX - news) almost three months after agreeing a non-binding $2.2 billion all-share deal to buy Interxion Holding NV (NYSE: INXN - news) .

The agreement between Telecity and Interxion prohibited either firm from soliciting or discussing alternative proposals except in limited circumstances.

Telecity said on Thursday it believed it was required "by virtue of its fiduciary duties" to enter talks with Equinix over a possible offer of 1,145 pence - a 27 percent premium to Wednesday's closing price.

The deal would be made up of 54 percent cash and 46 percent in Equinix stock.

(Reporting by Neil Maidment; Editing by Karolin Schaps)