RDA Microelectronics Gets Non-binding Proposal From PDSTI At $15.50/ADS

(RTTNews) - RDA Microelectronics Inc. (RDA) announced Friday that its Board has received an unsolicited, preliminary non-binding proposal from Shanghai Pudong Science and Technology Investment Co., Ltd. or "PDSTI", a wholly state-owned limited liability company directly under Pudong New Area government of Shanghai, pursuant to which PDSTI proposes to acquire all of the outstanding ordinary shares of the Company and American Depositary Shares of the Company , in each case other than those Shares or ADSs owned by PDSTI and its affiliates, for US$2.5833 in cash per Share or US$15.50 per ADS.

The company stated that its Board is reviewing and evaluating PDSTI's proposal. No decision has been made with respect to the Company's response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.