21Vianet shares recommended ahead of Q3 report at Canaccord Canaccord reiterates its Buy rating on 21 Vianet ahead of the Q3 report. The firm believes its data center expansion in Q2 will show accelerating growth for the rest of 2012 and into 2013. Share are Buy rated with a $16 price target.
Kingsoft enters consortium agreement for proposed 21Vianet buyout Kingsoft Corporation announced that it, Josh Sheng Chen and Tsinghua Unigroup entered into a consortium agreement in connection with the proposed acquisition of 21Vianet. Pursuant to the agreement, the buyer group proposes to form a new company and to cause the holding company to form a wholly-owned subsidiary, and at the closing of the proposed acquisition, the buyer group intends that the merger subsidiary will be merged with and/or into 21Vianet, with either 21Vianet or the merger subsidiary being the surviving company and becoming a wholly-owned subsidiary of the holding company. The buyer group submitted a non-binding proposal letter on June 10 to 21Vianet to acquire all of the outstanding ordinary shares of 21Vianet not already owned by the group.