Dada Nexus (DADA) said Tuesday that it has agreed to a take-private merger deal with JD.com (JD) units JD Sunflower Investment and JD Sunflower Merger Sub.
Under the terms of the deal, JD Sunflower Merger Sub will merge with and into Dada Nexus, becoming a unit of JD Sunflower Investment, which is owned by JD.com.
Once the merger is complete, Dada Nexus' American depositary shares will be cancelled in exchange for $2 in cash per ADS.
The merger is slated to be completed in Q3, pending shareholder approval.
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