Law360, New York (December 19, 2012, 7:03 PM ET) -- Chinese digital advertising agency Focus Media Holding Ltd. announced a $3.7 billion buyout Wednesday by a group of private equity firms, including Washington-based The Carlyle Group, and Focus Media CEO and Chairman Jason Nanchun Jiang.
The cash deal takes the company private for $27.50 per American depositary share, the Shanghai-based agency said. The offer represents a 17.6 percent premium over the company's closing price of $23.38 on Aug. 10, the last trading day before Focus Media announced the proposal.
Under the terms of the agreement, Focus...
Focus Media Goes Private In $4B Deal With PE Firms, CEO
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