Goodman Group and Digital Realty have acquired a 9.9% stake in Australian data centre operator NEXTDC at an average price of A$9.22 a share through a 50:50 joint vehicle, the two companies said on 9 November 2026.
Why Ackland Investments No.1 Pty Limited (owned 50:50 by Goodman Group and Digital Realty Trust) is buying NEXTDC Limited (9.9% stake)
Goodman and Digital Realty told investors through their broker 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. NEXTDC's board said it considers the move opportunistic, noting that it came two weeks after the 21 October 2026 delay to power at its M3 Melbourne facility and a cut to FY27 guidance, and said it has not received any takeover proposal.
Deal terms and financing
The A$9.50 price is a 45.5% premium to NEXTDC's A$6.53 close on 4 November. A full 9.9% holding would be worth about A$715m (US$500m), according to a term sheet seen by Reuters, while the Australian Financial Review reported that JP Morgan arranged 57.25m shares, or 7.5%, for about A$544m. NEXTDC shares closed 50.8% higher at A$9.85 on 5 November.
Market context
NEXTDC had cut its FY27 underlying EBITDA guidance to A$245m-265m from A$385m-410m. It has appointed Barrenjoey and UBS as joint lead financial advisers, Cadence Advisory as independent financial adviser and Mallesons as legal adviser.
