VNET Shares Pop Over 11% As More Buyout Firms Weigh Takeover Offer

Buyout firms CDH Investments and PAG weighed bids for U.S.-listed Chinese data center company VNET Group, Inc VNET.
CDH and PAG separately explored financing and deal structures for a potential offer, Bloomberg reports.
The investors could bid independently or form a consortium with other prospective bidders.
In September, VNET bagged a non-binding proposal from its founder and Chair, Josh Sheng Chen, to acquire it for $8.20 in cash per ADS or $1.3667 per share. The purchase price implied a 74.8% premium.
VNET received a non-binding cash takeover offer in April from boutique Chinese advisory and private equity firm Hina Group and the Shanghai branch of Industrial Bank Co for $8 per ADR.
Other companies considering bidding for VNET include North Asia-focused investor MBK Partners.
VNET is a carrier- and cloud-neutral Internet data center services provider in China. It operates in more than 30 cities throughout China, servicing over 6,500 hosting and related enterprise customers.
Price Action: VNET shares traded higher by 11.5% at $6.00 in pre-market on the last check Tuesday.