CD - Chinese data center company Vnet jumps on report of possible rival takeover offer

• Vnet Group Inc. ( NASDAQ: VNET ) soared 14% in premarket trading on a report that MBK Partners is considering making an offer for the Chinese data center company.
• MBK Partners is in discussions to join with a partner to make a bid for Vnet ( VNET ), according to a Bloomberg report , which cited people familiar. Blackstone ( BX )-backed Vnet is also said to have drawn interest from other investment funds in the industry.
• An offer from an MBK-led group would compete with a bid from Chinese private equity firm Hina Group and the Shanghai Branch of Industrial Bank Co., which in April made a non-binding offer for $8 per American depositary receipt.
• The bids for Vnet ( VNET ) also come after a Bloomberg report in late April that Chindata Group ( CD ), another Chinese data center company, received takeover interest from other firms in the industry. GDS Holdings ( GDS ) is said to be evaluating an offer to combine with Chindata , according to the report.

For further details see: