NQ Mobile (NQ) shares surged more than 25% in pre-market hours trading Wednesday after the company announced that its board of directors has received a non-binding proposal from Bison Capital Holding Company Ltd to acquire all of NQ’s outstanding ordinary shares and American Depositary Shares. Bison has proposed a fixed cash consideration of $9.80 per ADS.
NQ Mobile said it’s reviewing the proposed transaction, and may retain independent advisors, including an independent financial advisor, to assist it in its work. The company also said that no decisions have been made by its board with respect to its response to Bison’s proposal.
In today’s pre-market session, the equity is 25.22% higher, changing hands at $8.64 a share.
NQ Mobile Inc. is a global provider of mobile Internet services. The company maintains dual headquarters in Dallas, Texas, USA and Beijing, China.