22 October, 2015
Youku Tudou Inc. announced on October 22, 2015, that the special committee of the board of directors of the company has retained Skadden as its US legal counsel in relation to the review and evaluation of a nonbinding proposal, dated October 16, 2015, from Alibaba Group Holding Limited for a "going-private" transaction. In the proposed transaction, Alibaba would acquire all of the outstanding ordinary shares of Youku Tudou, including ordinary shares represented by American depositary shares (each representing 18 ordinary shares of Youku Tudou), that are not already owned by Alibaba. The transaction is expected to be worth US$5.6 billion based on the current proposed offer price.
Youku Tudou Inc. (NYSE: YOKU) is a leading multi-screen entertainment and media company in China, and China's leading Internet television platform.
The Skadden team included partners Julie Gao and Michael Gisser, and associates Olivia Odell, Yuting Wu and Weiwei Chen.
For more information, please see Youku Tudou's announcement here.
