Acorn Announces Suspension Of Taking Private Proposal On Coronavirus Outbreak

(RTTNews) - Acorn International Inc. (ATV) said that a buyer group, which offered to buy the company for $19.50 per American Depositary Share, is not prepared to pursue acquisition of the company citing uncertainty regarding coronavirus outbreak.

In a letter to the special committee of the board of directors of the company, Robert Roche said that he and the shareholders of the buyer group remain interested in continuing negotiations with the Special Committee regarding the Acquisition.

In November, 2019, Roche and the buyer group offered to buy the company for $0.975 per ordinary share or $19.50 per American Depositary Share.