Finally - a $677 million takover offer for China Paradise
Shareholders with more than 60% of the stock have essentially already agreed to Gome's offer which is expected to change the dynamic of China's highly competitive consumer electronics industry.
After a week of heavy speculation in the media, Gome Electrical Appliances Holding and China Paradise Electronics Retail have announced they will indeed merge to create a stronger leader in the mainland consumer electronics sector.
The transaction will be done in the form of a voluntary general offer with Gome offering to pay a total of $5.27 billion $677 million primarily through a share swap but with a small cash component on top. If completed, it will mark the first...
To continue reading, please login or register for free