21Vianet rapid expansion goal for 2014 should be met, says Canaccord Canaccord expects to see a reacceleration of revenue growth and margin expansion for 21Vianet as the company undergoes a rapid expansion program. The firm believes this will demonstrate the company's leadership in the market and keeps its Buy rating and $31 price target on the stock.
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.