|This Slide: #53 of 100|
Slide #53. iSoftStone Holdings Limited — New iSoftStone Holdings Limited and New iSoftStone Acquisition Limited
iSoftStone Holdings Limited (ISS)
New iSoftStone Holdings Limited and New iSoftStone Acquisition Limited
iSoftStone Holdings Limited ("iSoftStone" or the "Company") (NYSE: ISS), a leading China-based IT services provider, today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with New iSoftStone Holdings Limited ("Parent") and New iSoftStone Acquisition Limited ("Merger Sub"), pursuant to which Parent will acquire iSoftStone (the "Transaction") for US$0.57 per ordinary share of the Company (a "Share") or US$5.70 per American depositary share, each representing ten Shares (an "ADS"). This amount represents a premium of 17.8% over the Company's closing price of US$4.84 per ADS on June 5, 2013, the last trading day prior to June 6, 2013, the date that the Company announced that it had received a "going-private" proposal, and a premium of 26.4% to the volume-weighted average closing prices of the Company's ADSs during the 30 trading days prior to June 6, 2013.
iSoftStone Holdings is a holding company. Through its subsidiaries, Co. is engaged as a China-based IT services provider, serving both Greater China and Global clients. Co.'s integrated suite of IT services and solutions, including Consulting & Solutions, IT Services and Business Process Outsourcing, supports corporations in China, the United States, Europe and Japan. Co. manages its business primarily around four target industry verticals: Technology; Communications; Banking, Financial Services and Insurance; and Energy, Transportation and Public sector.
Open the ISS Page at The Online Investor »
Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
powered by Xignite