15.75 0.00 (0.00%)
After hours: 4:15PM EDT
Hello, and thank you for standing by for Bitauto's Second Quarter of 2020 Earnings Conference Call. Speakers from the Company today are Mr. Andy Zhang, CEO, and Mr. Ming Xu, CFO. Bitauto does not undertake any obligations to update any forward-looking statement except as required under applicable law.
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Bitauto Holdings Limited (NYSE: BITA) to an investor consortium led by Morespark Limited. Under the terms of the proposed transaction, shareholders of Bitauto will receive only $16.00 in cash for each share of Bitauto that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
Bitauto Holdings (BITA) saw a big move last session, as its shares jumped nearly 10% on the day, amid huge volumes.