On January 25, Capital State learned that Acorn International (ATV. US) announced that at its recent Extraordinary General Meeting of Shareholders, the Company's Board of Directors approved a previously received privatization offer. About 98 percent of the vote was in favor of approving the merger and privatization agreement.
The parties currently wish to complete the merger as soon as possible, subject to the conditions set out in the Merger Agreement. Upon completion of the merger, Acorn International will become a privately held company and its Depositary Shares will no longer be listed on the New York Stock Exchange.
Acorn International announced in August 2020 that the Company's Directors had received a preliminary non-binding recommendation from the Company's executive chairman, Robert W. Roche, that the Buyer intended to acquire all of the Company's outstanding shares of the Company for $15.22 per ADS (each ADS represents 20 ordinary shares) or $0.761 per share in cash. Under the proposal, the purchaser is expected to acquire approximately 75% of the Company's outstanding common stock.
Header image source: 123RF
Risk Warning: All information presented by Capital State is for reference only and does not constitute investment advice, and all investment operation information cannot be used as the basis for investment. Investment is risky, enter the market need to be cautious!
This article originated from Capital State
![Why are the acorns that have been kicked out of the "mainstream dried fruit" called "grain trees"? You also deserve to be called Acorn? Why is acorn also called a grain tree? Why was Acorn kicked out?[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)