By Chris Wack


American Tower Corp. said one of its subsidiaries has entered into a nonbinding term sheet contemplating a third-party minority equity investment in the company's U.S. data-center business in the anticipated amount of $2.5 billion.

The company said in a filing that the valuation of the U.S. data-center business in the investment is anticipated to be consistent with the valuation for its previously completed acquisition of CoreSite Realty Corp. and the valuations for its previously acquired data-center businesses.

There are no assurances that the parties will enter into definitive agreements for, or complete, the investment, the company said.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

06-02-22 0733ET