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Huya Agrees to Buy DouYu to Create Chinese Game Streaming Giant
Huya Inc. during the company's initial public offering.
Photographer: Michael Nagle/Bloomberg
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Huya Inc. has agreed to buy DouYu International Holdings Ltd. in an all-share deal that will create a Chinese game-streaming giant with a market value of more than $11 billion.
Investors have been offered 0.73 American depositary shares of Huya for each ADS of DouYu, the companies said in a statement on Monday. That values DouYu’s ADSs at about $18.83 apiece as of Friday’s closing price, a 35% premium, and values the company’s equity at about $5.98 billion.