ATV - Acorn International in revised going private transaction for $21/share
Acorn International (ATV) soars 26% in premarket, after announcing a definitive merger agreement with First Ostia Port (controlling shareholder), in an all-cash deal for $21/share.The company says per share merger consideration represents a premium of 44.1% over the company’s closing price of $14.57/ADS on August 17, a day prior when the company received a non-binding “going private” proposal from the controlling shareholder.The deal will be debt funded from a third-party lender, and is expected to conclude by end of this year.
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Acorn International in revised going private transaction for $21/share