Chindata receives non-binding “going private” proposal from CMC

Chindata announced that the special committee of its board of directors received a preliminary non-binding proposal letter from China Merchants Capital – CMC – to acquire all of the outstanding shares of the company for $4.6 per ordinary share or $9.2 per ADS in cash. The company also received a letter from BCPE Bridge Cayman and BCPE Stack Holdings – the Bain Shareholders – stating that the Bain Shareholders, who collectively own 87.39% of the total voting power of the company, do not intend to sell any shares beneficially owned by them in the company to any third party nor pursue any alternative transaction. The special committee, which was formed following receipt of a preliminary non-binding proposal letter from the Bain Shareholders, will continue to consider and evaluate all options for maximizing shareholder value with the assistance of the special committee’s independent financial and legal advisors. No decisions have been made with respect to the company’s response to either proposal.