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InsideArbitrage Potential Deal Alert: BEST (BEST) Announces Receipt of a Preliminary Non-Binding Proposal

  • November 7, 2023


StockBEST Inc.SymbolBEST
Date Announced11/06/2023Source Press Release
TypeUnsolicited BidAcquiring Company/Person Shao-Ning Johnny Chou, founder, chairman and chief executive officer of BEST Inc,

BEST Inc. (BEST) an integrated smart supply chain solutions and logistics services provider in China and Southeast Asia announced that its board of directors has received a preliminary non-binding proposal letter dated November 3, 2023, from Mr. Shao-Ning Johnny Chou, founder, chairman of the Board and chief executive officer of the company, on behalf of Mr. Shao-Ning Johnny Chou, Mr. George Chow, the chief strategy and investment officer of the company, Denlux Logistics Technology Invest Inc., Alibaba Investment Limited, BJ Russell Holdings Limited and Cainiao Smart Logistics Investment Limited (collectively, the “Buyer Group”), to acquire all of the outstanding ordinary shares of the Company, including the Class A ordinary shares represented by the American Depositary Shares of the company that are not already beneficially owned by the Buyer Group for a proposed purchase price of US$0.144 per Ordinary Share or US$2.88 per ADS in cash.

BEST Inc. Investor Relations

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.