360 Capital Group closer to snapping up takeover target APDC

Company News

by Jessica Amir

Property and funds management group, 360 Capital Group (ASX:TGP) informed the market it now has 58.6 per cent voting power of its takeover target Asia Pacific Data Centre Group (APDC) (ASX:AJD).

It comes as 360 Capital Group increased its substantial holding in the APDC (to 58.6 per cent). 

As a result 360 Capital’s target offer of the keenly eyed APDC will now close on 20 November 2017 at 7pm unless extended.

All this follows the Australian Government takeover’s panel quashing NEXTDC’s (ASX:NXT) application to review the takeover tussle.

Shares in Asia Pacific Data Centre Group (ASX:AJD) are trading about 1.3 per cent lower at $1.93.
 

Jessica Amir

Finance News Network
Jessica is the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.