SINA - SINA 'going private' deal in doubt due to objecting shareholders

SINA Corp. (SINA) will deliver authorization notices, as required by Cayman Islands law, to all shareholders who had validly objected to the company's previously announced "going private" merger before the shareholder meeting that took place on Dec. 23, 2020.The plan of merger with New Wave Holdings was approved at the special shareholder meeting.However, SINA had received notices of objections from certain shareholders, who in aggregate held ~35.9% of total issued and outstanding shares, before the vote was taken.Objecting shareholders may dissent the transaction within 20 days after the authorization notice date.If holders of more than 10% of the shares have validly delivered notice of dissent, a condition to New Wave Holdings' obligation to complete the merger will fail to be met and New Wave will, in its sole discretion if it declines to waive that condition, be entitled to not proceed with the merger and abandon the transactions contemplated by

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SINA 'going private' deal in doubt due to objecting shareholders