Xueda Education Group Enters into Definitive Merger Agreement

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Go back to Xueda Education Group Enters into Definitive Merger Agreement

Xueda Education Group (XUE) Enters $5.50/ADS Takeover Deal

July 27, 2015 6:18 AM EDT

Xueda Education Group (NYSE: XUE) announced that it has entered into a definitive agreement and plan of merger (the "Merger Agreement") with Xiamen Insight Investment Co., Ltd. a joint stock company established under the laws of the People's Republic of China ("Insight"), pursuant to which Insight will acquire Xueda (the "Transaction") for US$2.75 in cash per ordinary share (a "Share") or US$5.50 in cash per American Depositary Share (an "ADS") of the Company. The price represents a premium of 95.0% over the Company's closing price of US$2.82 per ADS on April 17, 2015, the last trading... More