Shares of Chinese carrier and cloud-neutral internet data services provider VNET Group (NASDAQ:VNET) continue to trend northward today after the company’s Founder and the Executive Chairman of its Board Mr. Josh Sheng Chen made a preliminary non-binding proposal to acquire VNET’s outstanding shares at $1.3667 a piece or $8.20 per American Depositary Share.
VNET’s Board has now set up a special committee to consider this proposal as well as other strategic alternatives. The committee will also rope in independent advisors to help in the evaluation.
There can be no assurance that the transaction will go through or any agreement will be reached. Shares of the company hovered at $6 levels at the time of writing.
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