DIDA INC Soars About 90% on News of TONGCHENGTRAVEL Travel’s Full Takeover Bid. Tongcheng Travel’s wholly owned offeror plans a cash offer for all Dida shares at HK$ 1.39 each.The offer implies about HK$ 1.42 billion equity value, based on 1,026,282,344 shares outstanding.
Dida board plans a conditional special cash dividend of HK$ 1.17 per share, payable in addition to the offer price.Irrevocable undertakings cover 551,148,534 shares, or 53.7% of Dida’s issued share capital.
Financing includes a facility of up to HK$ 1.5 billion from China CITIC Bank International.
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