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 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.