Vnet, formerly known as 21Vianet has received unsolicited acquisition offers from two Chinese investment firms. Industrial Bank Co. ltd and Hina Group are looking to acquire the Chinese data center firm. The offer tabled is US$8 in cash per American depositary share. The offer can also be approximated to US$1.3333 per ordinary share. Vnet’s market cap is just a little bit off $800 million. The data center firm also acknowledged the proposal but said it is still mulling over the sale.
According to the company, there’s no assurance that the companies interested will make any definitive offer. It also noted that it is also unclear whether any agreement will be implemented or if the deal will be approved or completed. Vnet owns and operates over 35 self-built data centers in more than 30 cities across China. It also operated 59 partnered facilities across the company. Blackstone has invested up to $400m into Vianet. Besides, an investment was made into Vianet in February 2022.
