New York Stock Exchange-listed Chinese mobile Internet services firm NQ Mobile Inc. says it has received a non-binding proposal from Bison Capital Holding Company Limited to acquire all of NQ’s outstanding ordinary shares in a go-private deal, according to a company announcement.
Bison has proposed to acquire all of NQ’s shares at US$9.80 per American Depository Share (ADS) in cash. That represents a 40% premium compared with NQ’s closing price of US$6.90 the day before the announcement.
NQ says its board is reviewing the proposed now, and no decisions have been made.
With offices in Los Angeles and New York, Bison Capital manages over US$350 million focused on investing in middle-market companies. Most of its portfolio companies are U.S.-based, according to its website.