According to Bloomberg, SINA Corporation (SINA) approached by an entity led by its chairman

POTENTIAL DEAL DETAILS

Stock SINA Corporation Symbol SINA
Date Announced 07/07/2020 Source Bloomberg
Type Unsolicited Bid Acquiring Company/Person New Wave Holdings Limited
Date of Confirmation: N/A Price at Confirmation: $42.56
Potential Profit: 4.98% Annualized Profit: 67.32%

Sina Corp. (SINA), a Chinese social media company, has received a take-private proposal for $41 a share from an entity led by its chairman.

Update(s):

August 07, 2020: SINA Corporation (SINA), a leading online media company serving China and the global Chinese communities, today announced that the independent special committee of the Company’s Board of Directors  has retained Morgan Stanley Asia Limited as its financial advisor, and Gibson, Dunn & Crutcher LLP as its U.S. legal counsel to assist the Special Committee in its evaluation and consideration of the previously announced preliminary non-binding proposal from New Wave MMXV Limited that the Board received on July 6, 2020

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