Dada Nexus stock rockets on JD.com's full take-private buyout proposal [Yahoo! Finance]
Dada Nexus Limited - American Depositary Shares (DADA)
Company Research
Source: Yahoo! Finance
In This Article DADA JD Investing.com -- Shares of Dada Nexus Ltd (NASDAQ:DADA) jumped after its majority shareholder, Chinese e-commerce giant JD (NASDAQ:JD).com, submitted a non-binding proposal to take the delivery company private. Dada Nexus's US-listed shares rocketed roughly 25% in premarket trading on Monday. JD.com has offered to pay $2 per American depositary share, or 50 cents per ordinary share, for the shares it doesn't already own. The offer represents a 42% premium to Friday's closing price of $1.41 and values the company at approximately $520 million. In September, JD.com disclosed a 63% stake in Dada Nexus after acquiring Walmart's 9.3% interest in the company. Dada Nexus announced that its board has established a special committee of three independent directors to assess the proposal. The committee intends to engage an independent financial adviser and legal counsel to support its review. The company emphasized that its board has not made any decision
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