Fund manager 360 Capital, led by Tony Pitt, has made a $1.95-a-share all-cash unconditional proposal for Asia Pacific Data Centres, meeting the challenge from his quarry's board to improve the structure of his existing offer.

Mr Pitt's better offer comes less than a week after the embattled APDC board told him they liked his topline number, $1.95, which beats a rival $1.87-a-share offer from its tenant NextDC that had previously been endorsed by the board.