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)
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.