Deals
China Stock Rout Spurs Discount Buyout Bids for YY and Dangdang
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The worst rout in Chinese stocks in over two decades hasn’t been bad for everyone.
Three Chinese companies listed in the U.S. received buyout proposals last week from management looking to scoop up firms on the cheap. All three offers were below the stocks’ average price in the 30 days prior to the announcements. Before the Chinese equity tailspin accelerated this month, 23 previous takeover bids this year were made at an average 17 percent premium, data compiled by Bloomberg show.