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 a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.