NEXTDC rejects APDC data centre sale offer

Company News

by Jessica Ellerm

NEXTDC Limited (ASX:NXT) has announced it intends to reject Asia Pacific Data Centre Group’s sale offer of three data centres in Sydney, Perth and Melbourne for a combined price of $300 million.

Currently tenanted by NEXTDC, the data centre operator was issued with first right of refusal for the purchase yesterday.

NEXTDC is rejecting the offers on the grounds of unjustifiable value, promoted by the current board.

It has indicated the asking price represents a 36 per cent premium to the independent valuation of the portfolio obtained by the prior APDC Board in August of this year.

Shares in NEXTDC Limited (ASX:NXT) closed about 0.82 per cent higher to $6.12.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.