- Chindata Group Holdings Ltd (NASDAQ:CD) has received initial takeover interest from other firms in the industry, Bloomberg reports.
- Shanghai-based GDS Holdings Ltd (NASDAQ:GDS) considered a bid to combine with the Chinese data center company backed by private equity firm Bain Capital.
- Rivals like EdgeConneX, backed by private equity firm EQT AB, could also weigh potential bids for the company.
- Chindata lost 68% in value in 2021 following China’s crackdown on technology companies wreaking havoc on investor enthusiasm for Chinese companies.
- Chinese companies trading in New York were rendered vulnerable by China and the U.S. tension over auditing rules.
- Bain acquired Chindata in 2019 from Wangsu Science & Technology Co. and merged it with its portfolio firm Bridge Data Centres, creating a pan-Asian company operating hyper-scale data centers in China, India, and Southeast Asia.
- Price Action: CD shares traded higher by 12.80% at $4.94 in the premarket on the last check Friday.
