Vimicro International CorporationNASDAQ
Dec. 15, 2015, 9:20 AM
- 98.57% of Vimicro (NASDAQ:VIMC) shares that were used in voting for the company's $13.50/ADS going-private deal (announced in September) were cast in favor of the deal.
- Vimicro and the would-be acquirers, which include the company's founder/CEO and co-CEO, plan to complete the deal "as soon as practicable." Shares closed yesterday at $13.35.
Sep. 15, 2015, 12:28 PM
- Vimicro (VIMC +1.3%) has agreed to be acquired by a Chinese parent company for $13.50 per ADS.
- If/when the deal closes, the parent company will be partly owned by Vimicro's founder/CEO and co-CEO, The buyer group currently owns 41% of Vimicro's shares, and intends to fund the acquisition using a loan from a firm called Alpha Spring Limited.
- With Vimicro trading 12% below the buyout price, some doubts apparently exist about the deal going through.