Brief: Airmedia announces receipt of preliminary non-binding "going private" proposal

Yueda Digital Holding

19/06/2015 12:11

June 19 (Reuters) - Airmedia Group Inc  AMCN.O : 
 * Announces receipt of preliminary non-binding "going private" proposal 
 * Buyer group beneficially owns an aggregate of approximately 38% of all of the 
   company's issued and outstanding ordinary shares 
 * Formed special committee comprised of three independent directors, conor 
   chia-hung yang, shichong shan and songzuo xiang 
 * Got proposal to acquire Airmedia shares not already owned by buyer group for 
   $6.00 in cash per American depositary share 
 * Says special committee plans to retain legal and financial advisors to assist 
   it in evaluating the transaction 
 * Buyer group intends to fund the consideration payable in the transaction with 
   a combination of debt and/or equity capital 
 * Received non-binding proposal letter from chairman, CEO, on behalf of himself 
   and management proposing a"going-private" transaction 
 
 * Source text for Eikon  ID:nPn1rL9Q4  
 
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