- Chinese video company Ku6 Media (NASDAQ:KUTV) is up 12.3% as it has its definitive go-private deal from Shanda Interactive Entertainment.
- Shanda Investment Holdings will acquire Ku6 for cash equivalent to $1.08 per ADS, a 54% premium over the Jan. 29 closing price just before the proposal. The depositary shares are trading currently at $0.976.
- Shanda beneficially owns about 69.9% of Ku6 shares and plans to use cash on hand for the deal, which is expected to close in the second half.
- Now read Sinovac, Ku6 Join Privatization Queue »