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VNET (VNET) Receives Unsolicited Preliminary Non-Binding Proposal to Acquire All of Its Shares

  • April 11, 2022

POTENTIAL DEAL DETAILS

StockVNET Group, Inc.SymbolVNET
Date Announced04/11/2022Source Press Release
TypeUnsolicited BidAcquiring Company/Person Josh Sheng Chen, founder of the Company and the executive chairman of the Board

VNET Group, Inc. (VNET), a leading carrier- and cloud-neutral Internet data center services provider in China, announced that its Board of Directors has recently received an unsolicited preliminary non-binding proposal letter from The Hina Group and Industrial Bank Co., Ltd., Shanghai Branch, proposing to acquire all of the outstanding ordinary shares of the Company for US$8.00 in cash per American depositary share, or approximately US$1.3333 per ordinary share.

Update(s):

July 27, 2022: MBK Partners is considering making a bid for Chinese data center company Vnet Group Inc.(VNET), according to people familiar with the matter, potentially kicking off a battle with another private equity firm.

September 13, 2022: VNET Group, Inc. (VNET) announced that its Board of Directors has received a preliminary non-binding proposal letter dated September 13, 2022 from Josh Sheng Chen, founder of the Company and the executive chairman of the Board, proposing to acquire all of the outstanding ordinary shares of the Company for US$8.20 in cash per American depositary share, or approximately US$1.3667 per ordinary share.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.