Vimicro Enters into Definitive Merger Agreement for Going Private Transaction
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September 15, 2015 12:18 PM EDT
Vimicro (NASDAQ: VIMC) resumes trading. Shares are still about flat on the session.
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September 15, 2015 11:48 AM EDT
Vimicro (NASDAQ: VIMC) announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with Vimicro China (Parent) Limited ("Parent") and Vimicro China Acquisition Limited ("Merger Sub"), pursuant to which Parent will acquire Vimicro (the "Transaction") for US$3.375 per ordinary share of the Company (a "Share") or US$13.50 per American depositary share, each representing four Shares (an "ADS"). This amount represents a premium of 9.5% over the Company's closing price of US$12.33 per ADS on June 19, 2015, the last trading day prior to June 22, 2015, the date that the Company announced that it... More
