On Friday, Shares of Youku Tudou Inc (ADR) (NYSE:YOKU), gained 21.95% to $24.92. 32.66 million shares of the company were exchanged.
Youku Tudou Inc. (YOKU) declared that its Board of Directors (the “Board”) has received a nonbinding proposal, dated October 16, 2015, from Alibaba Group Holding Limited (“Alibaba”) for a “going private” transaction in which it would acquire all of the outstanding ordinary shares of the Company, counting ordinary shares represented by American depositary shares (“ADSs,” each representing 18 ordinary shares of the Company), that are not owned by Alibaba for US$26.60 per ADS in cash, subject to certain conditions (the “Transaction”). The offer price set forth in the proposal letter represents a premium of about 30.2% over the closing price of the ADSs as quoted by the New York Stock Exchange (the “NYSE”) on October 15, 2015, the last trading day preceding to this declarement, and a premium of 44.5% to the volume-weighted average closing price of the ADSs as quoted by the NYSE during the last three months.
In connection with the proposal letter, certain shareholders of the Company, counting Victor Koo, the Company’s founder, chairman and chief executive officer, Chengwei Capital and various entities associated with them have reached a Support Agreement with Alibaba, dated October 16, 2015, following which such shareholders have agreed to, among other things and solely in their capacity as shareholders of the Company, vote their shares of the Company in favor of the Transaction in accordance with the terms of the Support Agreement.
The Board has formed a special committee comprising of two independent disinterested directors, Mr. Jonathan Jia Zhu and Mr. Jixun Foo, to consider the Transaction. The special
Youku Tudou Inc. operates as an Internet television company in the Peoples Republic of China. Its Internet television platform enables users to search, view, and share video content across various devices.
Shares of Apple Inc. (NASDAQ:AAPL), declined -0.73% to $111.04, during its last trading session.
Apple® declared that ResearchKit™ is enabling new research studies on autism, epilepsy and melanoma. ResearchKit turns iPhone® into a powerful tool for medical research by assisting doctors, scientists and other researchers gather data more frequently and more accurately from participants using iPhone apps. With ResearchKit, study participants can review an interactive informed consent process, easily complete active tasks or submit survey responses, and choose how their health data is shared with researchers, making contributions to medical research easier than ever. Researchers and developers have already contributed to ResearchKit, with more than 50 researchers adding to the open source framework.
With user permission, researchers designing studies using ResearchKit can also access data from the Health app such as weight, blood pressure, glucose levels, and other data measured by third-party devices and apps, to capture real-time data right from the iPhone. Access to the accelerometer, microphone, gyroscope and GPS sensors in iPhone deliver additional insight into a participant’s gait, motor impairment, fitness, speech and memory, delivering more objective data to medical researchers.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, watches, and portable digital music players worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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At the end of Friday’s trade, Shares of AT&T Inc. (NYSE:T), inclined 0.97% to $33.82.
AT&T* has boosted its mobile Internet coverage on the KU Lawrence Campus at Memorial Stadium by installing new Distributed Antenna Systems (DAS) to give customers a better wireless experience during games. A similar system was installed in Allen Fieldhouse in 2014.
“When our customers head out to the stadium or fieldhouse to cheer on the Jayhawks, we want them to have a great network experience throughout the game no matter what they’re doing – making a call, sharing pictures on social media, downloading apps or surfing the Internet,” said Nancy Garvey, Vice President/General Manager AT&T Greater Midwest. “We’re ongoing to invest in our wireless network on KU’s campus to assist customers stay connected from the hardwood to the gridiron.”
But it’s not just sports fans who will benefit from AT&T wireless upgrades. AT&T plans to further improve connectivity at KU by installing additional DAS throughout the campus. The wireless build out which started in 2013 and continues will eventually cover academic buildings and residence halls on the KU campus and additional KU Athletics facilities, counting Hoglund Ballpark, Anschutz Pavilion and the Horejsi Family Athletics Center, in addition to buildings on KU’s West Campus, such as the Lied Center. The AT&T DAS is open to other wireless companies, providing improved coverage to all students, faculty, staff and visitors if their provider elects to join the DAS network.
AT&T Inc. provides telecommunications services in the United States and internationally. The company operates through two segments, Wireless and Wireline. The Wireless segment offers data and voice services, counting local, long-distance, and network access services, in addition to roaming services to youth, family, professionals, small businesses, government, and business customers.
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