VTech to Acquire US based LeapFrog Enterprises

HONG KONG and EMERYVILLE, Calif., Feb. 5, 2016, LF, /PRNewswire/ VTech Holdings Limited (VTech, HKSE: 303),a global leader in electronic learning products and cordless telephones, and LeapFrog Enterprises, Inc. (LeapFrog, NYSE: LF), a leading developer of educational entertainment for children, today announced that the two companies have entered into a merger agreement whereby VTech will acquire LeapFrog. VTech plans to acquire 100% of the outstanding common stock of LeapFrog through an all cash tender offer followed by a second-step merger. In the tender offer, VTech will offer LeapFrog investors US$1.00 per share for LeapFrog s Class A and Class B shares, which represents a 75.4% premium over the closing price of LeapFrog s Class A shares on 4 February 2016. The total purchase consideration amounts to approximately US$72 million. VTech will fund the tender offer through internal resources. The tender offer is expected to commence on or about 3 March 2016, and will be open for a mi
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