Takeovers Panel declines to conduct hearing of APDC

Company News

by Jessica Amir

The Australian Government’s Takeover Panel has declined to conduct any proceedings brought down by NEXTDC (ASX:NXT) in relation to the takeover tussle of Asia Pacific Data Centre Group (ASX:AJD) 

The panel said it declined to conduct any proceedings noting was there no prospect of a declaration of unacceptable circumstances. 

The panel was asked to consider if the bidder’s statement by 360 Capital (ASX:TOT) to takeover Asia Pacific Data Centre Group (ASX:AJD) was adequate and may be implemented after the offer period. 

But, the Panel says APDC will only make a decision following legal and financial advice. 

Shares in Asia Pacific Data Centre Group (ASX:AJD) are trading flat at $1.96

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.