Ku6 Media Enters Into Definitive Agreement And Plan Of Merger With Shanda

(RTTNews) - Ku6 Media Co., Ltd. (KUTV) announced it had entered into a definitive Agreement and Plan of Merger with Shanda Investment Holdings Limited and Ku6 Acquisition Company Limited, a wholly-owned subsidiary of Shanda Investment Holdings. Shanda will acquire Ku6 Media Co. for cash consideration equal to $0.0108 per ordinary share of the company or $1.08 per American Depositary Share of the company, each representing 100 Shares.

Ku6 Media said its Board, acting upon the unanimous recommendation of the special committee, unanimously approved the Agreement, and the plan of merger. The Merger is currently expected to close in the second half of 2016.