|Bid||40.14 x 900|
|Ask||40.17 x 800|
|Day's Range||39.82 - 40.37|
|52 Week Range||26.04 - 46.85|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 17, 2020 - Aug 21, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||43.29|
SINA Corporation (the "Company" or "SINA") (NASDAQ: SINA), a leading online media company serving China and the global Chinese communities, today announced that the independent special committee (the "Special Committee") of the Company's Board of Directors (the "Board") has retained Morgan Stanley Asia Limited as its financial advisor, and Gibson, Dunn & Crutcher LLP as its U.S. legal counsel to assist the Special Committee in its evaluation and consideration of the previously announced preliminary non-binding proposal from New Wave MMXV Limited ("New Wave") that the Board received on July 6, 2020, proposing to acquire all the outstanding ordinary shares of the Company not already owned by New Wave for US$41 per share in cash in a going private transaction (the "Proposed Transaction"). New Wave is a company incorporated in the British Virgin Islands and controlled by Mr. Charles Chao, Chairman and Chief Executive Officer of the Company.
SINA's (NASDAQ: SINA) stock surged 10% on July 6 after the Chinese tech company received a go-private offer from New Wave MMXV, a British Virgin Islands-based company controlled by SINA's own CEO Charles Chao. New Wave already held a 55.5% voting stake in SINA after a share subscription agreement in late 2017. New Wave wants to acquire the remaining shares of SINA for $41 per share in a $2.7 billion deal.