NEXTDC blocks takeover of APDC by 360 Capital

Company News

by Jessica Amir

NEXTDC (ASX:NXT) says it does not intend on supporting 360 Capital’s (ASX:TGP) takeover offer of Asia Pacific Data Centre (ASX:AJD).

Without the Data centre and hybrid cloud company, NEXTDC's support the takeover of the real estate investment trust, Asia Pacific Data Centre would not be passed.

Asia Pacific Data Centre says 360 Capital also submitted an alternative takeover proposal but that posed ‘significant risks and uncertainties’. 

The company says there is no certainty that 360 Capital’s alternative takeover proposal is 'cabable' of being 'considered by shareholders'.

Shares in NEXTDC (ASX:NXT) are trading 0.76 lower to $4.58.

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.