BEIJING, August 20, 2015 /PRNewswire/ -- eLong, Inc.
(Nasdaq: LONG) (the "Company"), a leading mobile and online travel
service provider in China, today
announced that the special committee (the "Special Committee") of
the Company's board of directors (the "Board") has retained Duff
& Phelps (Duff & Phelps Securities, LLC and Duff &
Phelps, LLC) as its financial advisor and Kirkland & Ellis as
its legal counsel in connection with its review and evaluation of
the previously-announced non-binding "going private" proposal from
Tencent Holdings Limited
("Tencent") that the Board received
on August 3, 2015 (the
"Transaction").
The Board cautions the Company's shareholders and others
considering trading in the Company's securities that the Special
Committee is continuing its evaluation of the Transaction and that,
at this time, no decisions have been made by the Special Committee
with respect to the Company's response to the Transaction. There
can be no assurance that any definitive offer will be made by
Tencent, that any agreement will be
executed with Tencent or that the
Transaction or any comparable transaction will be approved or
consummated. The Company does not undertake any obligation to
provide any updates with respect to the Transaction or any other
transaction, except as required under applicable law.
Safe Harbor Statement
This press release may contain statements that are
"forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
Private Securities Litigation Reform Act of 1995. Words such as
"anticipate," "believe," "estimate," "expect," "forecast,"
"intend," "may," "plan," "project," "predict," "future," "is/are
likely to," "should" and "will" and similar expressions as they
relate to eLong are intended to identify such forward-looking
statements, but are not the exclusive means of doing so. We caution
you that there are risks associated with such forward-looking
statements, including the risk that neither a transaction based on
Tencent's non-binding proposal nor any comparable transaction will
be completed.
Except as required by law, we undertake no obligation to update
or revise publicly any forward-looking statements, whether as a
result of new information, future events or otherwise. All
forward-looking statements contained in this press release are
qualified by reference to this cautionary statement.
About eLong, Inc.
eLong, Inc. (Nasdaq: LONG) is a leader in mobile and
online accomodations
reservations in China. eLong
technology enables travelers to book hotels, guesthouses,
apartments and other accommodations, as well as air and train
tickets, through convenient mobile and tablet applications
(m.eLong.com), websites (www.eLong.com), 24 hour customer service,
and easy to use tools such as destination guides, maps and user
reviews. eLong's largest shareholders are Ctrip.com International,
Ltd. (Nasdaq: CTRP), Ocean Imagination L.P., and Tencent Holdings Ltd. (HKSE: 0700).
For further information, please contact:
eLong,
Inc.
Investor Relations
ir@corp.elong.com
+86-10-6436-7570
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SOURCE eLong, Inc.