NextDC & Asia Pacific Data Centre enter into a bid implementation agreement

Company News

by Anna Napoli

NextDC (ASX:NXT) and Asia Pacific Data Centre (ASX:AJD) have entered into a bid implementation agreement relating to an, all-cash, on-market takeover bid by NextDC.

The data centre operator is offering a price of $2.00 cash per security.

Asia Pacific Data security holders will also be entitled a special distribution of 2 cents per security payable on the 14th of November

NextDC says the offer represents its best and final price and the offer will not be increased in the absence of a competing proposal.

Majority shareholder, 360 Capital Group which holds an interest of 67.3 per cent of Asia Pacific's securities says it will accept the offer in the absence of a superior proposal.

Shares in NextDC (ASX:NXT) last traded at $6.24

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.