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