Xueda Education Gets $3.38/ADS Proposal From Insight Investment - Quick Facts

(RTTNews) - Xueda Education Group (XUE), a provider of personalized tutoring services for primary and secondary school students in China, announced its Board has received a preliminary non-binding proposal letter, dated April 20, 2015, from Insight Investment Co., Ltd.

In the Proposal Letter, Insight Investment indicated its interest to acquire all of the Company's outstanding shares, including ordinary shares represented by American Depositary Shares, at $3.38 per ADS, or $1.19 per ordinary share.

The Proposal Letter states that any proposed transaction is subject to approval of Insight Investment's board and shareholders' approval.

The Proposal Letter did not state any information pertaining to Insight Investment's current ownership of the Company's ordinary shares or ADSs. The Company is not aware through public filings or other documents that Insight Investment may beneficially own 5% or more of the Company's ordinary shares. In addition, no members of the Board are affiliates of Insight Investment.

The Proposal Letter is brief and did not include any financing plan for the proposed transaction.

The Company cautioned its shareholders and others considering trading its securities that the Board has just received the Proposal Letter and has not had an opportunity to carefully review and evaluate the Proposal yet, nor has the Board made any decision with respect to the Company's response to the Proposal.