Dada Announces Appointment of Financial Advisor and Legal Counsel to the Special Committee
Dada Nexus (NASDAQ: DADA), China's leading local on-demand retail and delivery platform, has announced that its independent special committee has appointed Kroll, as financial advisor and Gibson, Dunn & Crutcher LLP as U.S. legal counsel. These appointments are part of the committee's ongoing evaluation of the non-binding proposal received on January 25, 2025.
The special committee continues to review the proposal, and the Board has cautioned shareholders that no decisions have been made yet. The company emphasized that there is no guarantee of receiving a definitive offer, executing any agreement, or completing the proposed transaction. Updates will only be provided as required by law.
Dada Nexus (NASDAQ: DADA), la principale piattaforma cinese di retail e consegna on-demand, ha annunciato che il suo comitato speciale indipendente ha nominato Kroll come consulente finanziario e Gibson, Dunn & Crutcher LLP come consulente legale negli Stati Uniti. Queste nomine fanno parte della continua valutazione del comitato riguardo la proposta non vincolante ricevuta il 25 gennaio 2025.
Il comitato speciale continua a esaminare la proposta e il Consiglio ha avvertito gli azionisti che non sono state ancora prese decisioni. L'azienda ha sottolineato che non c'è alcuna garanzia di ricevere un'offerta definitiva, di eseguire alcun accordo o di completare la transazione proposta. Gli aggiornamenti saranno forniti solo come richiesto dalla legge.
Dada Nexus (NASDAQ: DADA), la principal plataforma de venta y entrega a demanda de China, ha anunciado que su comité especial independiente ha nombrado a Kroll como asesor financiero y a Gibson, Dunn & Crutcher LLP como asesor legal en EE. UU. Estos nombramientos son parte de la evaluación continua del comité sobre la propuesta no vinculante recibida el 25 de enero de 2025.
El comité especial sigue revisando la propuesta, y la Junta ha advertido a los accionistas que aún no se han tomado decisiones. La empresa enfatizó que no hay garantía de recibir una oferta definitiva, de ejecutar ningún acuerdo o de completar la transacción propuesta. Las actualizaciones solo se proporcionarán según lo exija la ley.
Dada Nexus (NASDAQ: DADA), 중국의 선도적인 주문형 소매 및 배달 플랫폼은 독립 특별 위원회가 Kroll을 재무 자문으로, Gibson, Dunn & Crutcher LLP를 미국 법률 자문으로 임명했다고 발표했습니다. 이러한 임명은 2025년 1월 25일에 받은 비구속 제안에 대한 위원회의 지속적인 평가의 일환입니다.
특별 위원회는 제안을 계속 검토하고 있으며, 이사회는 주주들에게 아직 결정된 사항이 없다고 경고했습니다. 회사는 최종 제안을 받을 보장, 어떠한 계약을 이행할 보장, 또는 제안된 거래를 완료할 보장이 없다고 강조했습니다. 업데이트는 법적으로 요구되는 경우에만 제공될 것입니다.
Dada Nexus (NASDAQ: DADA), la principale plateforme de vente et de livraison à la demande en Chine, a annoncé que son comité spécial indépendant a nommé Kroll en tant que conseiller financier et Gibson, Dunn & Crutcher LLP en tant que conseiller juridique aux États-Unis. Ces nominations font partie de l'évaluation continue de la proposition non contraignante reçue le 25 janvier 2025.
Le comité spécial continue d'examiner la proposition, et le Conseil a averti les actionnaires qu'aucune décision n'a encore été prise. L'entreprise a souligné qu'il n'y a aucune garantie de recevoir une offre définitive, d'exécuter un accord ou de finaliser la transaction proposée. Des mises à jour seront fournies uniquement si la loi l'exige.
Dada Nexus (NASDAQ: DADA), Chinas führende lokale Plattform für On-Demand-Einzelhandel und Lieferung, hat bekannt gegeben, dass ihr unabhängiger Sonderausschuss Kroll als Finanzberater und Gibson, Dunn & Crutcher LLP als US-Rechtsberater ernannt hat. Diese Ernennungen sind Teil der fortlaufenden Bewertung des Ausschusses hinsichtlich des am 25. Januar 2025 erhaltenen unverbindlichen Angebots.
Der Sonderausschuss prüft das Angebot weiterhin, und der Vorstand hat die Aktionäre gewarnt, dass noch keine Entscheidungen getroffen wurden. Das Unternehmen betonte, dass es keine Garantie für den Erhalt eines endgültigen Angebots, die Ausführung eines Vertrags oder den Abschluss der vorgeschlagenen Transaktion gibt. Aktualisierungen werden nur nach den gesetzlichen Anforderungen bereitgestellt.
- Appointment of reputable financial advisor (Kroll) and legal counsel indicates serious consideration of the proposal
- Formation of independent special committee demonstrates corporate governance compliance
- Uncertainty regarding the completion of the proposed transaction
- No guarantee of a definitive offer or agreement
SHANGHAI, China, Feb. 14, 2025 (GLOBE NEWSWIRE) -- Dada Nexus Limited (NASDAQ: DADA, “Dada” or the “Company”), China’s leading local on-demand retail and delivery platform, today announced that the independent special committee (the “Special Committee”) of the Company’s board of directors (the “Board”), formed to evaluate and consider the previously announced preliminary non-binding proposal letter dated on January 25, 2025 (the “Proposal”), has retained Kroll, LLC as its financial advisor and Gibson, Dunn & Crutcher LLP as its U.S. legal counsel.
The Special Committee is continuing its review and evaluation of the Proposal. The Board cautions the Company’s shareholders and others considering trading the Company’s securities that no decisions have been made with respect to the Proposal. There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the transaction contemplated by the Proposal, or that the transaction contemplated by the Proposal or any other similar transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to any transaction, except as required under applicable law.
About Dada Nexus Limited
Dada Nexus Limited is China’s leading local on-demand retail and delivery platform. It operates JD NOW, formerly known as JDDJ, one of China’s largest local on-demand retail platforms for retailers and brand owners, and Dada NOW, a leading local on-demand delivery platform open to merchants and individual senders across various industries and product categories. The Company’s two platforms are inter-connected and mutually beneficial. The vast volume of on-demand delivery orders from the JD NOW platform increases order volume and density for the Dada NOW platform. Meanwhile, the Dada NOW platform enables improved delivery experience for participants on the JD NOW platform through its readily accessible fulfillment solutions and strong on-demand delivery infrastructure.
For more information, please visit https://ir.imdada.cn/.
Forward-Looking Statements
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Dada may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Dada’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dada’s strategies; Dada’s future business development, financial condition and results of operations; Dada’s ability to maintain its relationship with major strategic investors; its ability to provide efficient on-demand delivery services and offer quality on-demand retail experience; its ability to maintain and enhance the recognition and reputation of its brands; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Dada’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Dada does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor inquiries, please contact:
Dada Nexus Limited
E-mail: ir@imdada.cn
Christensen
In China
Mr. Rene Vanguestaine
Phone: +86-178-1749-0483
E-mail: rene.vanguestaine@christensencomms.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: linda.bergkamp@christensencomms.com
For media inquiries, please contact:
Dada Nexus Limited
E-mail: PR@imdada.cn
FAQ
What advisors has DADA appointed for its special committee in February 2025?
When did DADA receive the preliminary non-binding proposal?
What is the current status of DADA's special committee review of the proposal?
Is there a guarantee that DADA will complete the proposed transaction?
