RTTNews | Jun 7, 2021 11:15AM EDT

11:15 Monday, June 7, 2021 (RTTNews.com) - Shares of QTS Realty Trust, Inc. (QTS) are gaining over 20% on Monday morning after Blackstone (BX) announced it will acquire the data-center operator in a $10 billion deal.

QTS is currently trading at $78.08, up $13.60 or 21.08%, on the NYSE. The stock has trade between $55.91 and $78.65 in the 52-week period.

Blackstone will acquire shares of QTS Realty Trust for $78.00 per share in an all-cash transaction valued at around $10 billion, including the assumption of debt.

The purchase price represents a premium of 21% to QTS' closing share price as of June 4, 2021 and a 24% premium to the volume weighted average share price over the last 90 days.

The deal is expected to close in the second half of 2021.

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