APDC swooped on by NEXTDC

Company News

by Jessica Amir

NEXTDC Limited (ASX:NXT) has announced a takeover offer of real estate investment trust, Asia Pacific Data Centre Group (ASX:AJD) for $1.87 cash per security.

The telecommunications service provider’s unconditional off-market takeover also involves making a payment within 7 business days, upon acceptance by APDC (ASX:AJD) shareholders.

NEXTDC says it’s making the offer as it believes it’s the logical owner of the APDC data centres. In addition to that, APDC shareholders will also be entitled to a 2.43 cents distribution per security (payable on 24 August 2017). 

NEXTDC says its offer represents compelling value to APDC unit holders as it’s a 19.5 per cent premium to APDC share's closing price on 1 May 2017.

Shares in Asia Pacific Data Centre Group (ASX:AJD) are trading 2.72 per cent higher to $1.89.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.