China’s most popular game livestreaming platforms, Huya and DouYu, announced a US$10 billion merger. As part of the agreement, NYSE-listed Huya will acquire all the outstanding shares of Nasdaq-listed DouYu, including ordinary shares represented by ADS, through a stock-for-stock merger. As a result of the merger, DouYu will become a wholly-owned subsidiary of Huya. The transaction is expected to close during the first half of 2021. Technology giant Tencent will control two-thirds of the new company upon the merger.
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