- Ku6 Media (NASDAQ:KUTV -3.1%) has hired Weil, Gotshal & Manges as legal counsel and Duff & Phelps Securities as a financial adviser as it considers a buyout proposal from Shanda Interactive Entertainment.
- Shanda has offered to acquire Ku6 and take it private for about $51.5M -- about $1.08 per ADS. The company's depositary shares are trading at $0.83 today.
- Shares have gained 18.6% since Monday's proposal for the transaction.
- Previously: Ku6 Media gets buyout proposal from Shanda (Feb. 01 2016)