According to the agreement, Dangdang Merger Company will merge with China Dangdang, which will survive as a wholly-owned subsidiary of the parent.
The merger will entail price of approximately $556 million, representing a premium of 2.9 per cent over the company's closing price on its last trading day. It will be funded by rollover financing from shareholders, proceeds from a committed loan facility and the available cash with parent company.
The transaction is expected to close by the second half of 2016, subject to customary closing conditions. (MCJ)
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