Reuters logo
NQ Mobile says gets buyout offer from Bison Capital
July 30, 2014 / 8:26 PM / 3 years ago

NQ Mobile says gets buyout offer from Bison Capital

July 30 (Reuters) - Chinese mobile security software maker NQ Mobile Inc said it received a buyout offer from investment firm Bison Capital Holding Co for about $490 million.

The non-binding cash offer of $9.80 per American depository share was at a premium of 42 percent over NQ Mobile’s Tuesday close. NQ Mobile shares rose as much as 22 percent.

In May, NQ Mobile sold a small stake in its unit, FL Mobile, to China’s Bison Capital for about $15 million.

The Chinese software company, which has been accused of fraud by short-seller Muddy Waters Research Group, said its board was reviewing the proposal.

NQ’s stock has been volatile since Muddy Waters made the allegations in October, plunging from a high of $25.90 just before the report was released to a low of $3.45 this month.

NQ shares closed up 8 percent at $7.44 on the New York Stock Exchange on Wednesday. (Reporting by Supantha Mukherjee in Bangalore)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below