21Vianet Group Inc. (VNET) announced Wednesday morning that its Board of Directors has received a non-binding proposal letter from its Chairman and CEO Josh Sheng Chen, Kingsoft Corp. Ltd. and Tsinghua Unigroup International Co. Ltd. proposing a "going-private" transaction. The group offered to acquire all of the outstanding ordinary shares of the Company that it does not already own for US$23.00 in cash per American depositary share, or approximately US$3.83 per ordinary share.
21Vianet Group gapped open higher Wednesday, but moved in a narrow range throughout the session. The stock closed up by 1.94 at $21.85, with volume at a 6-month high. 21Vianet jumped to a 1-month high.
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