Focus Media Accepts Offer to Go Private

Media

Published: December 19, 2012 2:08 pm

Last Updated: April 27, 2020 9:30 pm

Focus Media Holding Ltd. (NASDAQ: FMCN) has announced that it has accepted an offer of $5.50 per ordinary share ($27.50 per American Depositary Share) from firms that will be controlled by the company’s chairman and CEO, Jason Nanchun Jiang, immediately after the transaction. The offer represents a premium of 17.6% to the closing price of the company’s ADSes on August 10th, the last trading day prior to the company’s announcement that it had received the proposal to go private.

The transaction values Focus Media at approximately $3.7 billion, and is higher than the original offer of $27 per ADS that came in August.

Focus Media is China’s largest digital display advertiser, and competes in China with AirMedia Group Inc. (NASDAQ: AMCN). Focus Media is about the same size as US outdoor media firm Lamar Advertising Co. (NASDAQ: LAMR).

The buyout offer is coming from firms associated with The Carlyle Group LP (NASDAQ: CG) and others, including Jiang, who now controls 35.5% of Focus Media.

Shares of Focus Media are up 7% at $25.59 in a 52-week range of $16.80 to $30.08.

Paul Ausick

Travel Cards Are Getting Too Good To Ignore (sponsored)

Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.

We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.

It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.

We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.