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Homeinns Enters into Definitive Merger Agreement for $35.80/ADS

Courtesy of Benzinga.

Homeinns Hotel Group (NASDAQ: HMIN) today announced that it has entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with BTG Hotels Group (HONGKONG) Holdings Co., Limited (“Holdco”), a wholly owned subsidiary of BTG Hotels (Group) Co., Ltd., a PRC joint stock company that is listed on the Shanghai Stock Exchange and principally engaged in the management of hotels and tourism destinations (SHA: 600258) (“BTG Hotels”), BTG Hotels Group (CAYMAN) Holding Co., Ltd (“Merger Sub”), a wholly owned subsidiary of Holdco, and solely for the purposes of certain sections of the Merger Agreement, BTG Hotels.

Pursuant to the Merger Agreement, Holdco will acquire the Company (other than Rollover Shares as defined below) for cash consideration of US$17.90 in cash per ordinary share of the Company (each, a ”Share”) or US$35.80 in cash per American depositary share of the Company (each, an ”ADS”), each of which represents two Shares.  This represents an 18.7% premium over the closing price of US$30.17 per ADS as quoted by the NASDAQ Global Market on June 10, 2015, and a premium of 29.4% and 36.6%, respectively, over the

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