Market Overview

Spreadtrum Receives Shareholder Approval for Acquisition by Tsinghua Unigroup


Spreadtrum Communications, Inc. (NASDAQ: SPRD) today announced the results of its extraordinary general meeting of shareholders (the "EGM") held on September 4, 2013 in respect of the Company's pending acquisition by Tsinghua Unigroup Ltd. ("Tsinghua Unigroup").  As previously announced on July 12, 2013, Spreadtrum and Tsinghua Unigroup entered into a definitive merger agreement (the "Merger Agreement") pursuant to which the Company will become a wholly owned subsidiary of Tsinghua Unigroup (the "Merger") and each American depositary share (representing three ordinary shares) will be converted into the right to receive US$31.00 in cash and each ordinary share will be converted into the right to receive US$10.33 in cash.

At the EGM, shareholders constituting a quorum were present in person or by proxy and approved all of the resolutions proposed in the EGM notice, which included approval of (1) the Merger Agreement, (2) the Plan of Merger required to be filed with the Registrar of Companies in the Cayman Islands to give effect to the Merger and (3) the transactions contemplated by the Merger

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Posted-In: M&A News Guidance Contracts Asset Sales Management Global


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