Tencent has issued an invitation to merge Betta and Huya, sources say Betta executives will manage the new company

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Original title: Tencent offers to merge douyu and Huya, sources say Betta executives will manage the new company
Bijinglei, shell finance reporter of Beijing News
Betta International Holdings Limited (NASDAQ: Doyu, hereinafter referred to as “douyu”) announced today that its board of directors has received a non binding preliminary proposal from Tencent Holdings Limited on August 10, 2020, proposing that douyu and Huya (New York Stock Exchange: Huya) should be merged for a share for share merger. Therefore, Huya or its subsidiaries will purchase each of the betta’s shares Shares of common stock issued (including common stock represented by American Depository shares). Under the proposed deal, Betta shareholders will receive an agreed number of new class a common shares issued by Tiger tooth.
The board of directors said it would evaluate the proposed transaction, and the board cautioned the company’s shareholders and others considering trading in the company’s securities that the board had just received the proposal and had no opportunity to carefully review and evaluate the proposed transaction or make any decision on the company’s response to the proposed transaction. There is no guarantee that any final offer will be made, that any final agreement relating to the proposed transaction will not be enforced, or that the transaction or any other transaction will be approved or completed. Except as required by applicable law, the company does not assume any renewal obligations in connection with this transaction or any other transaction.
The reporter of Beijing News learned exclusively that if the acquisition is completed, the betta senior management team will become the senior management team of the new company. In this regard, a number of people close to the deal exclusively confirmed to shell finance and economics of Beijing news that Tencent did put forward a proposal to promote the merger of Betta and Huya, and the proposal has been raised to the level of Tencent general office. “If it’s fast enough, it can be done within the year.” A person close to the deal told the Beijing News.
The new Beijing News shell finance and economics exclusively learned that the way to merge the fighting fish and tiger teeth is to get through the content, but the two teams operate independently, and the brand will continue to be retained. In other words, users can see two anchors through one platform at the same time, but it is not known whether the user’s account system is connected. During the transaction, huanju group, which hatched tiger teeth, will transfer some shares and reduce its control.
For the above merger news, douyu and Huya did not comment.
In June this year, a number of people close to the deal confirmed to the shell finance reporter of Beijing news that the merger of douyu and Huya is on the way, and the proposal to promote the merger was put forward by Tencent, and the specific details are not yet determined. “As soon as the end of this year and the beginning of next year, Huya will usher in a new high-level, as well as a new strategic goal,” a former Huya employee told shell finance reporter of Beijing News.