VNET Group (VNET) Stock: Why The Price Surged 29.63%

Apr 12th, 2022 7:06 EST
  • The stock price of VNET Group Inc (NASDAQ: VNET) increased by 29.63% in the most recent trading session. This is why.

The stock price of VNET Group Inc (NASDAQ: VNET) – a leading carrier- and cloud-neutral Internet data center services provider in China – increased by 29.63% in the most recent trading session. Investors are responding positively to VNET Group announcing 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 in cash per American depositary share, or approximately US$1.3333 per ordinary share.

The Board is cautioning the company’s shareholders and others considering trading the company’s securities that the Board has just received the proposal and has not made any decisions with respect to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed, or that the proposed transaction or any other transaction will be approved or consummated.

The company does not undertake any obligation to provide any updates with respect to the proposal or any other transaction, except as required under applicable law.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

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