This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Youku Tudou Inc. And Tudou Holdings Limited Announce Completion Of Merger

BEIJING and SHANGHAI, Aug. 23, 2012 /PRNewswire-Asia/ -- Youku Tudou Inc. (NYSE: YOKU, and formerly Youku Inc.) ("Youku") and Tudou Holdings Limited (NASDAQ: TUDO) ("Tudou") today announced the completion of the merger (the "Merger") between Tudou and Two Merger Sub Inc. ("Merger Sub"), a wholly owned subsidiary of Youku, pursuant to the agreement and plan of merger (the "Merger Agreement"), dated March 11, 2012, by and among Youku, Tudou and Merger Sub, and the plan of merger, dated August 23, 2012, between Tudou and Merger Sub. As a result of the Merger, Tudou has become a wholly owned subsidiary of Youku. Youku's name was changed from "Youku Inc." to "Youku Tudou Inc." at the effective time of the Merger.

Under the terms of the Merger Agreement, each Tudou Class A ordinary share and Tudou Class B ordinary share (not including Tudou Class B ordinary shares represented by Tudou American depositary shares ("Tudou ADSs")) issued and outstanding immediately prior to the effective time of the Merger has been cancelled in exchange for the right to receive 7.177 Youku Class A ordinary shares, and each Tudou ADS representing four Tudou Class B ordinary shares issued and outstanding immediately prior to the effective time of the Merger has been surrendered in exchange for the right to receive 1.595 Youku American depositary shares, each representing 18 Youku Class A ordinary shares.

Trading of Tudou ADSs on the Nasdaq Global Market ("NASDAQ") will be suspended beginning on August 24, 2012. A Form 25 has been filed with the Securities and Exchange Commission (the "SEC") notifying the SEC of the delisting of the Tudou ADSs on NASDAQ and the deregistration of Tudou's registered securities. Tudou intends to terminate its reporting obligations under the Securities Exchange Act of 1934, as amended, by promptly filing a Form 15 with the SEC. Tudou's obligations to file or furnish with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will cease once the deregistration becomes effective.

About Youku Tudou Inc.

Youku Tudou Inc. (NYSE: YOKU) is China's leading Internet television company. Its Internet television platform enables users to search, view and share high-quality video content quickly and easily across multiple devices. Youku, which stands for "what's best and what's cool" in Chinese, is the most recognized online video brand in China. Youku's American depositary shares, each representing 18 of Youku's Class A ordinary shares, are traded on the NYSE under the symbol "YOKU".  

About Tudou Holdings Limited

Tudou Holdings Limited (NASDAQ: TUDO) is a leading Internet video company in China providing premium licensed content, use generated content ("UGC") and original in-house produced content. Founded in 2005, Tudou was the first UGC video sharing website launched in China. The "Tudou" brand is one of the most recognized Internet brands in China, and the annual Tudou Video Festival has become a signature event in the online video industry. For more information, please visit http://ir.tudou.com.

For more information, please contact: Ryan Cheung Corporate Finance Director Youku Tudou Inc. Tel:     (+8610) 5885-1881 x6090 Email: ryan.cheung@youku.com

Michael S. Fu Director, Investor Relations Tudou Holdings Limited Tel:     (+8621) 5170-2355 Email: mfu@tudou.com

 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs