As of the date of the Merger Agreement, the Rollover Shareholders beneficially own in aggregate approximately 34.9% of the issued and outstanding Shares.
Homeinns Hotel Group received a buyout offer from investors including Ctrip.com International Ltd. as China’s biggest operator of economy hotels.
Homeinns Hotel Group today announced that its Board of Directors (the "Board") has received a non-binding proposal letter.
Homeinns is trimming its development pipeline in the face of ongoing macroeconomic weakness in China, executives said during the company’s fourth-quarter earnings call.
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