- China's Bona Film Group (NASDAQ:BONA +0.4%) says shareholders have approved its go-private merger with Mountain Tiger International -- a coalition of company founder Yu Dong and investors, which include affiliates of Tencent, Fosun and Alibaba.
- Of shares voted, about 97.3% were in favor of the deal, surpassing a needed two-thirds majority.
- The deal is for Mountain Tiger to pay $27.40/ordinary share -- $13.70 per ADS -- for an implied enterprise value of about $1B. Bona has a market cap of about $883M, and is trading today at $13.62/ADS.
- It expects to complete the deal "as soon as practicable," after which its ADS will delist from Nasdaq.