Goodman and Digital Realty sought to buy up to 9.9% of NEXTDC.
Why it matters: The proposed purchase could give Goodman and Digital Realty a substantial stake in one of Australia's data-center operators. Completion was unconfirmed, and the buyers said they had no current intention to make a takeover bid.
- Ackland Investments No. 1, owned equally by Goodman and Digital Realty, sought to buy up to 9.9% of NEXTDC at A$9.50 per share.
- The proposed price was a 45.5% premium to NEXTDC's November 4 closing price of A$6.53.
- NEXTDC shares rose approximately 43% during the November 5 session and reached A$9.34, according to Reuters-syndicated market coverage.
- The buyers said they had no current intention to make a takeover bid but reserved the right to do so later.
Goodman Group and Digital Realty Trust sought to buy up to 9.9% of NEXTDC through Ackland Investments No. 1 Pty Ltd, a vehicle the two companies own equally, according to NEXTDC's ASX filing.
Ackland sought to acquire the shares through an after-hours institutional bookbuild, or approached investors to sell NEXTDC shares at A$9.50 each. That was a proposed acquisition price, not evidence that Ackland had already built the stake.
NEXTDC said on November 5 that it did not know whether the sale had been completed, so the final stake was not confirmed. The proposed price represented a 45.5% premium to NEXTDC's November 4 closing price of A$6.53. NEXTDC shares rose approximately 43% during the November 5 session and reached A$9.34, according to Reuters-syndicated market coverage.
NEXTDC's board called the move “an opportunistic move by Goodman and Digital Realty” and said it was not in possession of a takeover proposal. The buyers said through their broker that they had “no intention of submitting a control proposal or making a takeover bid ... at this time,” while reserving the right to do so later, according to the filing.
The filing said the proposed purchase followed NEXTDC's disclosure of power-availability delays at its M3 Melbourne project and a cut to fiscal 2027 guidance. Those developments provide context for the proposal, but the materials do not establish that the buyers had made a takeover offer or that the A$9.50 sale remained open.
By the numbers
- 9.9% - Maximum proposed stake in NEXTDC
- A$9.50 - Proposed price per share
- 45.5% - Premium to NEXTDC's November 4 closing price
Yes, but: The proposed acquisition had not been confirmed as completed, and the buyers said they did not currently intend to make a takeover bid.