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Dangdang determines the final privatization agreement ADS $6.7 per share

Phoenix Technology News Beijing on May 31st news, dangdang.com (NYSE:DANG) announced today that the company in May 28th and Dangdang Holdings Limited ("parent") and Dangdang with limited company (consolidated subsidiaries, the parent company subsidiary company) signed a definitive merger agreement.

 

Dangdang privatization

according to the merger agreement, the parent company will be $1.34 per common share (equivalent to $ADS per share of $6.70) in cash to acquire all of the issued ordinary shares. The transaction on Dangdang’s valuation of $556 million. The offer is less than the closing price of $6.51 in July 8th (the last trading day prior to the privatization offer) of $2.9%. Compared with the past 20 trading days and the average price of the past 30 days, respectively, a premium of 10.49% and 7.32%.

after the completion of the merger, the parent company beneficially owned by human dangdang.com chairman Yu Yu, director CEO Li Guoqing and other senior executives, including the vice president Chen Lijun Yao Danqian, senior vice president and vice president Kan Min.

May 17, 2016, Dangdang announced from the chairman Yu Yu and CEO Li Guoqing received a modified Dangdang privatization of the offer, the offer price of $1.30 per common share ($ADS per).

currently, the board of directors has approved the privatization agreement Dangdang, and suggested that shareholders vote to approve the transaction. The transaction is expected to be completed in the second half of this year. (compile / water)

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