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Ximalaya’s swan song plays out in a USD 2.9 billion Tencent buyout
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Ximalaya’s swan song plays out in a USD 2.9 billion Tencent buyout
On June 10, Tencent Music Entertainment (TME) announced it had signed a merger agreement with Ximalaya and several other parties to acquire the long-form audio platform. Under the terms of the deal, TME will pay USD 1.26 billion in cash and issue a number of Class A ordinary shares—equivalent to no more than 5.1986% of its total shares outstanding, based on the five trading days prior to closing—as well as incentive shares amounting to no more t…
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