Latest news with #DadaNexus
South China Morning Post
4 days ago
- Business
- South China Morning Post
JD.com hires full-time food delivery riders to challenge Meituan, Alibaba
JD Logistics has kicked off recruitment of full-time meal delivery riders, as its parent – e-commerce giant – intensifies efforts to compete with Meituan and Alibaba Group Holding in the lucrative Chinese food delivery market. Hong Kong-listed JD Logistics said on Tuesday it had started hiring full-time riders for food delivery business, in a move aimed at broadening the subsidiary's service offerings, according to a filing with the stock exchange. Beijing-based launched its food delivery service in February following a trial last year, sparking a turf war in a sector long dominated by Meituan and Alibaba's recruitment drive suggested that it urgently needed to strengthen its courier workforce amid heightened competition in the food delivery market, analysts said. 'With JD Food Delivery's daily orders surpassing 25 million, the courier shortage has become increasingly apparent,' said Cheng Liteng, an analyst at Chinese e-commerce consultancy A Meituan food delivery courier in Chongqing, southwest China. For months, has been relying on its on-demand delivery subsidiary Dada Nexus, which counts 1.3 million annual active riders, to support its new food delivery services. said last week it had hired over 120,000 full-time meal-delivery riders as of mid-June, with CEO Sandy Xu Ran expecting this number to reach 150,000 by the end of the quarter. Despite the rapid addition, these figures still lagged those of competitors with millions of delivery personnel, including both full-time and part-time riders.
Yahoo
17-06-2025
- Business
- Yahoo
Dada Announces Completion of Going Private Transaction
SHANGHAI, China, June 16, 2025 (GLOBE NEWSWIRE) -- Dada Nexus Limited (NASDAQ: DADA, 'Dada' or the 'Company'), China's leading local on-demand retail and delivery platform, today announced the completion of the merger (the 'Merger') with JD Sunflower Merger Sub Limited ('Merger Sub'), a wholly owned subsidiary of JD Sunflower Investment Limited ('Parent'), pursuant to the previously announced Agreement and Plan of Merger (the 'Merger Agreement'), dated April 1, 2025, by the Company, Parent and Merger Sub. Parent is wholly owned by Inc. ('JD'). As a result of the Merger, the Company became a wholly owned subsidiary of Parent and will cease to be a publicly traded company. Pursuant to the Merger Agreement, which was approved by the Company's shareholders at an extraordinary general meeting on June 10, 2025, at the effective time of the Merger (the 'Effective Time'), each American depository share (each, an 'ADS'), representing four ordinary shares of the Company, par value US$0.0001 each (each, a 'Share'), issued and outstanding immediately prior to the Effective Time, other than ADSs representing the Excluded Shares (as defined in the Merger Agreement), together with the Shares represented by such ADSs, has been cancelled in exchange for the right to receive US$2.0 in cash per ADS without interest, and each Share issued and outstanding immediately prior to the Effective Time, other than the Excluded Shares, the Dissenting Shares (as defined in the Merger Agreement) and Shares represented by ADSs, has been cancelled in exchange for the right to receive US$0.5 in cash per Share without interest (the 'Merger Consideration'). Pursuant to the terms of the Merger Agreement, the Excluded Shares have been cancelled without payment of any consideration from the Company therefor and the Dissenting Shares have been cancelled and will entitle the former holders thereof to receive the fair value thereon determined in accordance with Section 238 of the Companies Act (As Revised) of the Cayman Islands. Registered shareholders immediately prior to the Effective Time who are entitled to the Merger Consideration will receive from the paying agent a letter of transmittal and instructions on how to surrender their Shares in exchange for the Merger Consideration in respect of each Share held thereby, and should wait to receive the letter of transmittal before surrendering their Shares. Payment of the Merger Consideration will be made to holders of Shares (other than Shares represented by ADSs) in respect of each such Share held thereby upon surrender of applicable Shares and delivery of the letter of transmittal and any other documents required by such letter of transmittal to be delivered in connection therewith. Payment of the Merger Consideration (after deduction of fees) will be made to holders of ADSs in respect of each ADS held thereby as soon as practicable after JPMorgan Chase Bank, N.A., the ADS depositary, receives the aggregate Merger Consideration payable to holders of ADSs from the paying agent. The Company also announced today that it requested that trading of its ADSs on Nasdaq Global Select Market (the 'Nasdaq') be suspended effective June 17, 2025. The Company requested that Nasdaq file a Form 25 with the Securities and Exchange Commission (the 'SEC') notifying the SEC of the delisting of the Company's ADSs on Nasdaq and the deregistration of the Company's registered securities. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by promptly filing a Form 15 with the SEC. The Company's obligation to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will cease once the deregistration becomes effective. Kroll, LLC is serving as financial advisor to a committee of independent directors established by the board of directors of the Company (the 'Special Committee'). Gibson, Dunn & Crutcher LLP is serving as U.S. legal counsel to the Special Committee. Appleby is serving as Cayman Islands legal counsel to the Special Committee. UBS AG Hong Kong Branch is serving as financial advisor to JD. Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal counsel to JD. Harney Westwood & Riegels is serving as Cayman Islands legal counsel to JD. About Dada Nexus Limited Dada Nexus Limited is China's leading local on-demand retail and delivery platform. It operates JD NOW, formerly known as JDDJ, one of China's largest local on-demand retail platforms for retailers and brand owners, and Dada NOW, a leading local on-demand delivery platform open to merchants and individual senders across various industries and product categories. The Company's two platforms are inter-connected and mutually beneficial. The vast volume of on-demand delivery orders from the JD NOW platform increases order volume and density for the Dada NOW platform. Meanwhile, the Dada NOW platform enables improved delivery experience for participants on the JD NOW platform through its readily accessible fulfillment solutions and strong on-demand delivery infrastructure. For more information, please visit Forward-Looking Statements This press release contains statements that may constitute 'forward-looking' statements pursuant to the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'aims,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'likely to' and similar statements. Statements that are not historical or current facts, including statements about Dada's beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors, risks and uncertainties include: uncertainties as to the expected benefits and costs of the Merger; the outcome of any legal proceedings that may be instituted against the Company related to the Merger; the amount of the costs, fees, expenses and charges related to the Merger; and other risks and uncertainties discussed in documents filed with the SEC by the Company as well as the Schedule 13E-3 and the proxy statement filed by the Company. Further information regarding these and other factors, risks and uncertainties is included in the Company's filings with the SEC. All information provided in this press release is as of the date of the press release, and Dada undertakes no duty to update such information, except as required under applicable law. For investor inquiries, please contact: Dada Nexus LimitedE-mail: ir@ ChristensenIn ChinaMr. Rene VanguestainePhone: +86-178-1749-0483E-mail: USMs. Linda BergkampPhone: +1-480-614-3004E-mail: For media inquiries, please contact: Dada Nexus LimitedE-mail: PR@
Yahoo
27-01-2025
- Business
- Yahoo
Why Dada Nexus Stock Popped Today
Shares of Dada Nexus (NASDAQ: DADA) were soaring today on news that (NASDAQ: JD) had proposed acquiring all of its outstanding shares for $2 per American Depositary Share. As a result, the stock was up 33% as of 10:38 a.m. ET. the Chinese e-commerce giant and China's largest direct online seller, offered to buy out its on-demand delivery partner at a 42% premium today. Dada Nexus said it had formed a special committee composed of three independent and disinterested directors to evaluate and consider the proposal. has not released a statement on the offer yet, but presumably, the company is proposing an acquisition because it thinks Dada Nexus is a good value at the price. Both stocks have struggled in recent years due to the weak economy in China, but a full acquisition of Dada Nexus could give ownership of its delivery partner at a good value. Considering that is already the majority owner of Dada Nexus and the offer pays a substantial premium, a deal seems more likely than not. Investors seem to be leaning toward acceptance as the stock was trading at $1.88, slightly below the offer price but up substantially from Friday's closing price. Dada Nexus's revenue is down 7% through the first three quarters of the year, and its operating loss has expanded significantly as well. With headwinds remaining in China and no signs of recovery in the business, a buyout seems to be the best move for shareholders. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $369,816!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $42,191!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $527,206!* Right now, we're issuing 'Double Down' alerts for three incredible companies, and there may not be another chance like this anytime soon.*Stock Advisor returns as of January 27, 2025 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Dada Nexus Stock Popped Today was originally published by The Motley Fool Sign in to access your portfolio
