Benzinga | Dec 10, 2020 06:08AM EST

Tarena Announces Formation of Special Committee

BEIJING, Dec. 10, 2020 /PRNewswire/ -- Tarena International, Inc. (NASDAQ:TEDU) ("Tarena" or the "Company"), a leading provider of professional education and K-12 education services in China, today announced that its board of directors (the "Board") has formed a special committee (the "Special Committee") consisting of two independent directors, Mr. Arthur Lap Tat Wong, who will serve as the chairman of the Special Committee, and Mr. Hon Sang Lee, to evaluate and consider the previously announced preliminary non-binding acquisition proposal letter dated December 8, 2020 (the "Proposal").

The Board cautions the Company's shareholders and others considering trading the Company's securities that no decisions have been made with respect to the Proposal. There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the transaction contemplated by the Proposal, or that the transaction contemplated by the Proposal or any other similar transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to any transaction, except as required under applicable law.