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CDEL (DL) Announces Receipt of Preliminary Non-Binding Proposal to Acquire the Company

  • June 8, 2020


StockChina Distance Education Holdings LimitedSymbolDL
Date Announced06/08/2020Source Press Release
TypeUnsolicited BidAcquiring Company/Person  Champion Distance Education Investments Limited and China Distance Learning Investments Limited
Date of Confirmation: 12/01/2020Price at Confirmation: $9.60
Potential Profit: 16.79%Annualized Profit: 34.82%

China Distance Education Holdings Limited (DL), a leading provider of online education and value-added services for professionals and corporate clients in China, today announced that its Board of Directors has received a preliminary non-binding proposal letter dated June 8, 2020 from Mr. Zhengdong Zhu, co-founder, chairman of the Board and chief executive officer of the Company, Ms. Baohong Yin, co-founder of the Company, deputy chairman of the Board and the spouse of Mr. Zhu and their affiliated entity (collectively, the “Buyer Group”) to acquire all of the outstanding ordinary shares of the Company, including ordinary shares represented by American depositary shares, for US$2.27 in cash per ordinary share, or US$9.08 in cash per ADS.

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