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.

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