Consortium Offers to Purchase Majority Stake in Hurray
Sina Tech, 4/27/09
A group of Chinese investors has made public an offer to acquire 51% of Chinese wireless value-added services provider Hurray (Nasdaq: HRAY) for a price of USD 3.50 per American Depository Share. At close of trade on Friday, Hurray's share price was USD 1.50. The consortium of investors hopes to turn Hurray into a cross-media and entertainment firm, and took the offer public after failing to engage the Hurray board in meaningful discussions.
Editor's Note: The consortium of investors which has made the offer is called Best Prospect Overseas Limited.
Keywords: M&A HRAY Hurray wireless investment WVAS SP Best Prospect
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