VNET Shares Pop Over 11% On Takeover Offer

Comments
Loading...
  • U.S.-listed Chinese data center company VNET Group, Inc VNET bagged a preliminary non-binding takeover proposal from its founder in September.
  • Buyout firms CDH Investments, MBK Partners, and PAG also considered bids for VNET, Bloomberg reported.
  • China Merchants Group Ltd weighed a takeover offer for Chinese data center operator Chindata Group Holdings Ltd.
  • The state-owned conglomerate studied a potential bid for the Bain Capital-backed business. 
  • China Merchants Group reached out to prospective investors, including infrastructure funds, about backing a deal.
  • Shanghai-based competitor GDS Holdings Limited GDS and PAG, which launched a digital infrastructure platform last year, explored offers for the business. 
  • EQT AB-backed peer EdgeConneX studied a bid.
  • Price Action: VNET shares traded higher by 11.8% at $5.10 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!