NEXTDC replacement takeover bid for APDC

Company News

by Jessica Amir

Data centre and hybrid cloud company, NEXTDC (ASX:NXT) has issued a replacement bidders statement to takeover Asia Pacific Data Centre Group (APDC) (ASX:AJD) for $1.87 cash per security.

NEXTDC gained approval to write to Asia Pacific Data Centre Group’s shareholders, telling them to accept their takeover, with the consideration payable in seven business day after their acceptance is received.

NEXTDC’s unconditional, all cash offer to buy all the securities it doesn’t own in the company is a 19.5 per cent premium to APDC’s closing price on 1 May 2017.

APDC shareholders who held its securities on the record date of 30 June 2017 will be entitled to receive its distribution of 2.43 cents per security payable on 24 August 2017.

Shares in NEXTDC (ASX:NXT) last traded 1.18 per cent lower to $4.18.

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.