Youku Tudou engages financial advisor, legal counsel to study going private proposal from Alibaba

Youku Tudou Inc. (NYSE: YOKU) said that the independent special committee of the company´s board of directors has taken initial action in connection with its review and evaluation of the nonbinding proposal, dated October 16, 2015, from Alibaba Group Holding Limited for a “going-private” transaction in which it would acquire all of the outstanding ordinary shares of the company.

The committee has retained J.P. Morgan Securities (Asia Pacific) Limited as its financial advisor, Skadden, Arps, Slate, Meagher & Flom LLP as its US legal counsel and Conyers Dill & Pearman as its Cayman Islands legal counsel.

Youku Tudou is a leading multi-screen entertainment and media company in China. As China´s leading Internet television platform, it enables users to search, view and share high-quality video content across multiple devices.