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Stock Market & Financial Investment News

News Breaks
July 18, 2014
15:54 EDTRDATsinghua closes acquisition of RDA Microelectronics
Tsinghua Unigroup and RDA Microelectronics jointly announced the closing of the approximately $907M merger of RDA with an affiliate of Tsinghua, as previously announced. Under the terms of the agreement, which was approved by the company's shareholders at an extraordinary general meeting held on December 27, 2013, each of the company's ordinary shares, including ordinary shares represented by American Depositary Shares, each representing six ordinary shares, issued and outstanding immediately prior to the effective time of the Merger, are cancelled in exchange for the right to receive $3.083333 per ordinary, or $18.50 per ADS. The company also announced that it will request that trading of its ADSs on the Nasdaq Global Select Market be suspended.
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