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RDA Microelectronics Inc Announces Receipt Of Non-Binding Acquisition Proposal

Friday, 27 Sep 2013 07:55am EDT 

RDA Microelectronics, Inc (RDA Microelectronics or the Company) announced that its Board of Directors has received an unsolicited, preliminary non-binding proposal letter dated September 27, 2013 from Shanghai Pudong Science and Technology Investment Co., Ltd. (PDSTI), a wholly state-owned limited liability company directly under Pudong New Area government of Shanghai, pursuant to which PDSTI proposes to acquire all of the outstanding ordinary shares of the Company (the "Shares) and American Depositary Shares of the Company (the "ADSs," each ADS representing six Shares), in each case other than those Shares or ADSs owned by PDSTI and its affiliates, for USD2.5833 in cash per Share or USD15.50 per ADS. The Company's Board of Directors is reviewing and evaluating PDSTI's proposal. No decision has been made with respect to the Company's response to the proposal. 

Company Quote

-0.08 -0.45%
23 Apr 2014