Notable Mergers and Acquisitions of the Day 1/20: [(ASIA)]
Tweet
Share
E-mail
Get Alerts ASIA Hot Sheet
Join SI Premium – FREE
Shares of AsiaInfo-Linkage, Inc. (Nasdaq: ASIA) are trading up over 20 percent today following an announcement that its Board of Directors received a non-binding proposal letter from Power Joy Cayman Limited, a wholly owned subsidiary of CITIC Capital China Partners II, L.P., pursuant to which Power Joy proposes to acquire all of the outstanding shares of common stock of AsiaInfo-Linkage in cash at a price which represents a premium over the current stock price.
The Special Committee of the Board of Directors, which was formed to consider the Proposal and any potential alternative transactions involving the Company, has retained Shearman & Sterling LLP as its legal counsel and is in the process of engaging a financial advisor to assist it in consideration of such matters.
Mr. Yungang Lu, Mr. Davin A. Mackenzie and Mr. Sean Shao were designated as the members of the Special Committee. The Board cautions the Company's shareholders and others considering trading in its securities that no decision has been made by the Special Committee with respect to the Company's response to the Proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.
The Special Committee of the Board of Directors, which was formed to consider the Proposal and any potential alternative transactions involving the Company, has retained Shearman & Sterling LLP as its legal counsel and is in the process of engaging a financial advisor to assist it in consideration of such matters.
Mr. Yungang Lu, Mr. Davin A. Mackenzie and Mr. Sean Shao were designated as the members of the Special Committee. The Board cautions the Company's shareholders and others considering trading in its securities that no decision has been made by the Special Committee with respect to the Company's response to the Proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- After-Hours Movers: AMAT, DLO, GLOB, YSS, ETON
- After-Hours Movers: CSCO, COHR, HLIT, CBRS, STUB, ENS
Create E-mail Alert Related Categories
Special ReportsRelated Entities
Notable Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
