February 17, 2016 2:46 PM | 1 min read |
Shares of
Jumei International Holding Ltd(ADR)
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(NYSE: JMEI), a China-based online retailer of beauty products surged higher by 8 percent and traded as high as $6.39 on Wednesday after the company
received a non-binding going private proposal.Jumei International's Founder, Chairman and CEO Leo Ou Chen, along with a consortium of investors, offered to acquire the company and take it private by buying all the outstanding shares of Jumei not already owned by the consortium for $7.00 in cash per American depositary share (ADS).Chen's going private proposal represents a 26.6 percent premium above the average closing price of the company's ADS over the past 10 trading days.The consortium of buyers already own approximately 54.4 percent of all Jumei International's stock and hold approximately 90.1 percent of the aggregate voting power.Jumei International's Board of Directors will evaluate the proposal independently before it will make a determination to support the buyout. In the meantime, no decisions have been made and there can be no assurance that any offer will be executed and approved.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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