Dangdang Gets Revised Non-binding Proposal To Buy Company At US$6.50/ADS

(RTTNews) - E-Commerce China Dangdang Inc. (DANG) said that it has received a non-binding proposal, dated May 17, 2016, from Ms. Peggy Yu Yu, Chairwoman of the Board, and Mr. Guoqing Li, Chief Executive Officer and director of the Company to acquire all of the outstanding shares of the Company not already owned by the Buyer Group at US$6.50 per American depositary share or US$1.30 per common share in cash, subject to certain conditions.

The special committee of the Board , formed to consider the original proposal by the Buyer Group, dated July 9, 2015, is evaluating this revised proposal with the assistance of its financial and legal advisors.

The Special Committee cautions the Company's shareholders and others considering trading in the Company's securities that no decision has been made by the Special Committee or the Board with respect to the revised proposal.