Tarena rallies on merger agreement with Kidedu for going private transaction

Apr. 30, 2021 8:25 AM ETTarena International, Inc. (TEDU)TEDUBy: Khyathi Dalal, SA News Editor4 Comments
  • Tarena International (NASDAQ:TEDU) trades 10.4% higher premarket after entering into a merger agreement with Kidedu Holdings and its wholly-owned subsidiary Kidarena Merger Sub wherein Kidedu will merge into Tarena in a transaction implying an equity value of of ~$230.6M.
  • Tarena will be the surviving company and will become a wholly owned subsidiary of Kidedu.
  • Post the merger agreement, each ADSs representing one Class A ordinary share will be cancelled in exchange for the right to receive $4 in cash per ADS without interest.
  • The merger consideration represents a premium of ~27.4% to the Dec.7 closing price of ADSs and will be funded through cash contribution by Ascendent Capital Partners III or its affiliates.
  • Merger expected to close in Q3.
  • In December first week, the company had received non-binding proposal letter from its chairman for going private.

Recommended For You

Comments (4)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.