China's Youku, Tudou Form $1B Online Video Co.

Law360, New York (March 12, 2012, 1:31 PM EDT) -- Two of China's largest online video sites, Youku Inc. and Tudou Holdings Ltd., agreed Monday to merge into one megacompany that will hold a combined value of $1.1 billion.

Per a definitive agreement between the two companies, Tudou will combine with Youku in a 100 percent stock-for-stock transaction and become a wholly owned subsidiary of the newly merged company, which will go by the name Youku Tudou Inc. The merger, which has already been approved by both companies' boards of directors and is expected to close...
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