E-Commerce China Dangdang announces go-private deal

• E-Commerce China Dangdang (NYSE:DANG) announces it accepted a go-private offer at $6.70 per share in a deal valued at $556M.
• The parent company of the acquiring firm will be beneficially owned by Peggy Yu Yu, Guoqing Li, and other members of Dangdang's management.
• The merger is expected to close in the second half of this year.
• DANG +4.98% premarket to $6.33.