Takeovers Panel declines to conduct hearing of APDC

16/10/2017 11:37:00

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The Australian Government’s Takeover Panel has declined to conduct any proceedings brought down by NEXTDC (ASX:NXT) in relation to the takeover tussle of Asia Pacific Data Centre Group (ASX:AJD) 

The panel said it declined to conduct any proceedings noting was there no prospect of a declaration of unacceptable circumstances. 

The panel was asked to consider if the bidder’s statement by 360 Capital (ASX:TOT) to takeover Asia Pacific Data Centre Group (ASX:AJD) was adequate and may be implemented after the offer period. 

But, the Panel says APDC will only make a decision following legal and financial advice. 

Shares in Asia Pacific Data Centre Group (ASX:AJD) are trading flat at $1.96