The Nextdc Ltd (ASX: NXT) share price has surged higher by 47% on news that Goodman Group (ASX: GMG) has bought shares.
Nextdc is one of the largest data centre businesses in Australia, with a small but growing presence internationally in Asian locations.
Goodman and Digital Realty pounce
Nextdc announced to the ASX that there was a “raid” on Nextdc shares after market trading on 4 November 2026 by an investment vehicle called Ackland Investments that’s owned equally by Goodman and Digital Realty Trust.
The company said that it understands Ackland conducted an aftermarket bookbuild and was looking to acquire Nextdc shares at a$9.50 per share, up to a maximum holding of 9.9% of Nextdc’s shares.
Nextdc said it does not know the outcome of the share raid.
But, Nextdc did highlight the statement by Goodman and Digital Realty through their broker to investors during the aftermarket bookbuild that they have “no intention of submitting a control proposal or making a takeover bid for the company at this time, but reserve their right to do so”.
What was Nextdc’s response?
The Nextdc board of directors believes this is an opportunistic move by Goodman and Digital Realty because it comes two weeks after Nextdc’s announcement of the M3 Melbourne power delay and revised FY27 guidance. Additionally, the move was made through an aftermarket bookbuild open only to institutional investors.
Nextdc’s board of directors then said it’s not in possession of any takeover proposal at this time. Any approaches will be considered on their merits and in the best interests of all Nextdc shareholders.
Shareholders don’t need to take any action about this offer. Nextdc has appointed Barrenjoey Advisory and UBS Securities as its joint lead financial advisers and Cadence Advisory as its independent financial adviser. Mallesons is acting as the legal adviser.
The ASX share said it will keep the market informed of any further developments.
Final thoughts on the Nextdc share price
Investors can be happy about a huge recovery of the share price after such a short amount of time.
Considering it has already risen significantly, I wouldn’t say it’s great value today. It’s possible Goodman could come back with a takeover bid higher than $9.50. Time will tell.
For now, there are other ASX growth shares I’d rather buy.
