Focus Media Eyes $3.5B Buyout Offer From PE Firms, CEO

Law360, New York (August 13, 2012, 5:42 PM EDT) -- Chinese digital advertising agency Focus Media Holding Ltd. is fielding a $3.5 billion buyout offer from a buyer group including several private equity firms and its CEO and Chairman Jason Nanchun Jiang, the company said Monday.

The unsolicited cash proposal, received Sunday, would take the company private for $27 per American depositary share, according to the Shanghai-based agency. Based on that per-unit price, the offer represents a 16 percent premium over Friday’s close and a 31.5 percent premium over the stock’s 60-day average.

Investment firms in...
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