DouYu bought out by Huya in all stock deal

  • Huya (NYSE:HUYA) is acquiring DouYu (NASDAQ:DOYU) in an all stock deal, with each Doyu shareholder receiving 7.30 Class A ordinary shares of Huya, and each DouYu ADS receiving 0.730 ADS of Huya.
  • The deal is seen closing in H1 of 2021.
  • DOYU +13.6%, HUYA +4.7% premarket.
  • Post merger, Huya and DouYu shareholders will each hold approximately 50% shares of the combined company on a fully diluted basis.
  • Alongside, the Huya board approves a cash dividend in an aggregate amount of $200M to be paid on or around the date of the closing of the merger and DouYu board approved a cash dividend in an aggregate amount of $60M to be paid on or around the date of the closing of the merger.
  • It is expected that, immediately after the closing of the additional acquisition of Huya Shares, the additional acquisition of DouYu Shares and the closing of the merger, Tencent Holdings voting power in the combined company held through its affiliates will be 67.5% on a fully-diluted basis.

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