Smart Share Global receives preliminary acquisition proposal from Hillhouse

* Smart Share Global (NASDAQ:EM [https://seekingalpha.com/symbol/EM]) announced on Friday that the board of directors received a preliminary non-binding proposal letter from Hillhouse Investment Management, to acquire all the outstanding ordinary shares of the company that are not already beneficially owned by Hillhouse or the Management Members for $1.77 per ADS or $0.885 per share in cash.
* The company earlier announced that it had entered into a definitive Agreement and plan of merger, pursuant to which the company will be acquired by a consortium includes Trustar Mobile Charging.
* "The special committee of the company’s independent directors, which was formed following receipt of a preliminary non-binding proposal letter, dated January 5, 2025, from the Consortium will continue to consider and evaluate all options for the best interests of shareholders with the assistance of the special committee’s independent financial and legal advisors," said the company.
* The Board cautioned the company’s shareholders and others considering trading the company’s securities that no decisions have been made with respect to this proposal from Hillhouse.
* EM closed +0.42735% at $1.175.

* Source: Press Release [https://seekingalpha.com/pr/20202898-smart-share-global-limited-announces-receipt-of-a-preliminary-non-binding-proposal-to-acquire]

MORE ON SMART SHARE GLOBAL

* Smart Share Global enters into definitive merger agreement for going private transaction [https://seekingalpha.com/news/4476854-smart-share-global-enters-into-definitive-merger-agreement-for-going-private-transaction]
* Financial information for Smart Share Global [https://seekingalpha.com/symbol/EM/income-statement]