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Announced

Baidu terminated the agreement to acquire a live streaming business of JOYY for $3.6bn.

Financials

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Transaction Value£2,726m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Digital Services

Domestic

Single Bidder

Acquisition

Friendly

Private

live streaming

China

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Synopsis

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Baidu, a Chinese search engine company, terminated the agreement to acquire a live streaming business of JOYY, a social media firm, for $3.6bn. Baidu said its $3.6bn deal for Joyy’s YY Live has expired three years after it was unveiled because regulators did not approve the transaction by December 31. The deal was previously slated to close in the first half of 2021.

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