Dada Nexus Limited (NASDAQ:DADA) shares are trading higher after the corporate received a preliminary, non-binding proposal from JD.com, Inc.(NASDAQ:JD) to amass all shares, including ADSs, at $2.00 per ADS ($0.50 per Abnormal Share) in money.
The offer represents a 42% premium to the last closing price before the proposal date. The Board has formed a special committee, chaired by Laura Marie Butler, to guage JD.com’s acquisition proposal.
The corporate cautions that the Board has not yet made any decisions regarding JD.com’s proposal.
There isn’t a guarantee that a definitive offer can be made, an agreement reached, or that the proposed transaction can be approved or accomplished.
Notably, in 2022, JD.com received all crucial regulatory approvals to speculate in Dada Nexus, as per which Dada planned to issue atypical shares to JD.com in exchange for $546 million in money and strategic resources.
In response to a regulatory filing last yr, JD.com, Inc., through its wholly-owned subsidiary, has purchased a complete of 87.48 million atypical shares and 1.875 million ADSs of Dada Nexus from Global Pinnacle Corporation, an organization wholly owned by Walmart. Because of this of this transaction, JD.com acquired all of the shares of Dada held by Walmart and beneficially owned roughly 63.2% of Dada Nexus’ total atypical shares outstanding.
Price Motion: DADA shares are up 24.8% at $1.79 premarket on the last check Monday.
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This text JD.com Eyes Full Control Of Dada Nexus With Premium Money Offer: Details originally appeared on Benzinga.com
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