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Key News
Asian equities were mixed but mostly lower overnight on decent volumes.
Data center operator Chindata will be going private. The company is reported to have reached a deal with Bain Capital, which values the company +7.5% higher than the initial proposal. Holders of the company’s American Depositary Receipts (ADRs) will receive $8.60 in cash. The company is an important and promising player in developing the enormous amount of cloud data centers that China will need for its cloud transition. Hat tip to Bain for recognizing the value of this company that public markets could not. Hopefully, it will be back when public market sentiment improves.
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