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Equinix Declares Special Distribution

The following excerpt is from the company's SEC filing.

REDWOOD CITY, Calif., Sept. 28, 2015 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced that its Board of Directors has declared a special distribution of $627.0 million, or approximately $10.95 per share based on the number of shares currently outstanding (the "2015 Special Distribution"), to its common stockholders in connection with Equinix's conversion to a real estate investment trust ("REIT") effective January 1, 2015.

The 2015 Special Distribution is in an amount that includes the sum of: (1) estimated foreign earnings and profits repatri ated as dividend income to be recognized in 2015; (2) taxable income in 2015 from depreciation recapture in respect of accounting method changes commenced in Equinix's pre-REIT period; and (3) certain other items of taxable income. Equinix expects that the value of the 2015 Special Distribution, plus all its other distributions during 2015, will equal or exceed the taxable income that Equinix expects to recognize in 2015.

The 2015 Special Distribution is payable on November 10, 2015 to Equinix's common stockholders of record as of the close of business on October 8, 2015. Common stockholders can elect to receive payment of the 2015 Special Distribution in the form of stock or cash, with the total cash payment to all...