Update: Huya and DouYu form Special Committees to Evaluate Tencent’s Merger Proposal
Update: The boards of directors of Huya and DouYu formed special committees to review and evaluate Tencent’s proposed stock-for-stock merger of the two Chinese live-streaming platforms. DouYu’s special committee consists of independent directors Zhaoming Chen, Xi Cao, Xuehai Wang, and Zhi Yan. The committee has retained Morgan Stanley Asia as its financial advisor and Davis Polk & Wardwell LLP as its U.S. legal counsel in connection with its review and evaluation of the proposed business combination. Huya’s special committee includes independent directors Hongqiang Zhao and Tsang Wah Kwong. The committee