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

POTENTIAL DEAL DETAILS

Stock China Distance Education Holdings Limited Symbol DL
Date Announced 06/08/2020 Source Press Release
Type Unsolicited Bid Acquiring Company/Person  Champion Distance Education Investments Limited and China Distance Learning Investments Limited
Date of Confirmation: 12/01/2020 Price 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.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.

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