BEIJING, Feb. 16, 2016 /PRNewswire/ -- Baidu, Inc.
("Baidu") (NASDAQ: BIDU), the leading Chinese language
Internet search provider, today announced that the independent
special committee of Baidu's board of directors, formed to consider
the previously announced non-binding proposal from Mr. Robin Yanhong Li and Mr. Yu Gong to acquire all of the outstanding
shares of Qiyi.com, Inc. beneficially owned
by Baidu, has retained J.P. Morgan Securities (Asia Pacific) Limited as its financial advisor
to assist it in this process. Maples and Calder and Han Kun Law
Offices act as the Cayman Islands
and PRC legal counsels, respectively, to the special committee.
The Board cautions Baidu's shareholders and others considering
trading in its securities that no decisions have been made with
respect to Baidu's response to the proposal. There can be no
assurance that any definitive offer will be made, that any legally
binding agreement will be executed or that this or any other
transaction will be approved or consummated. Baidu does not
undertake any obligation to provide any updates with respect to
this or any other transaction, except as required under applicable
law.
About Baidu
Baidu, Inc. is the leading Chinese language Internet search
provider. As a technology-based media company, Baidu aims
to provide the best and most equitable way for people to
find what they're looking for. In addition to serving
individual Internet search users, Baidu provides an
effective platform for businesses to reach potential
customers. Baidu's ADSs trade on the NASDAQ Global Select
Market under the symbol "BIDU". Currently, ten ADSs represent one
Class A ordinary share.
For investor and media inquiries, please contact:
Sharon Ng
Baidu, Inc.
Tel: +86-10-5992-4958
Investor inquiries email: ir@baidu.com
Media inquiries email: intlcomm@baidu.com
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SOURCE Baidu, Inc.