Smart Share Global Limited Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company from Hillhouse
Energy Monster (NASDAQ: EM), a mobile device charging service provider, has received a competing acquisition proposal from Hillhouse Investment Management offering $1.77 per ADS or $0.885 per share in cash. This new proposal follows the company's earlier announcement on August 1, 2025, regarding a definitive merger agreement with Trustar Capital and management members.
The special committee of independent directors, formed after receiving the initial proposal in January 2025, will evaluate all options with their financial and legal advisors. The board emphasizes that no decisions have been made regarding Hillhouse's proposal, and there's no guarantee of a definitive agreement or transaction completion.
Energy Monster (NASDAQ: EM), fornitore di servizi di ricarica per dispositivi mobili, ha ricevuto una proposta di acquisizione concorrente da Hillhouse Investment Management che offre 1,77 USD per ADS o 0,885 USD per azione in contanti. Questa nuova offerta segue l'annuncio della societ脿 del 1潞 agosto 2025 riguardante un accordo di fusione definitivo con Trustar Capital e membri del management.
Il comitato speciale di amministratori indipendenti, costituito dopo la ricezione della proposta iniziale nel gennaio 2025, valuter脿 tutte le opzioni con i propri consulenti finanziari e legali. Il consiglio sottolinea che non sono state prese decisioni riguardo alla proposta di Hillhouse e non vi 猫 alcuna garanzia che si giunga a un accordo definitivo o al completamento della transazione.
Energy Monster (NASDAQ: EM), proveedor de servicios de carga para dispositivos m贸viles, ha recibido una propuesta de adquisici贸n competidora de Hillhouse Investment Management que ofrece 1,77 USD por ADS o 0,885 USD por acci贸n en efectivo. Esta nueva oferta sigue al anuncio de la compa帽铆a del 1 de agosto de 2025 sobre un acuerdo definitivo de fusi贸n con Trustar Capital y miembros de la direcci贸n.
El comit茅 especial de directores independientes, formado tras recibir la propuesta inicial en enero de 2025, evaluar谩 todas las opciones junto con sus asesores financieros y legales. La junta enfatiza que no se han tomado decisiones respecto a la propuesta de Hillhouse y que no hay garant铆a de que se alcance un acuerdo definitivo ni de que la transacci贸n se complete.
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Energy Monster (NASDAQ: EM), prestataire de services de recharge pour appareils mobiles, a re莽u une offre d'acquisition concurrente de Hillhouse Investment Management proposant 1,77 USD par ADS ou 0,885 USD par action en esp猫ces. Cette nouvelle proposition fait suite 脿 l'annonce de la soci茅t茅 du 1er ao没t 2025 concernant un accord de fusion d茅finitif avec Trustar Capital et des membres de la direction.
Le comit茅 sp茅cial compos茅 d'administrateurs ind茅pendants, cr茅茅 apr猫s la r茅ception de la proposition initiale en janvier 2025, examinera toutes les options avec leurs conseillers financiers et juridiques. Le conseil souligne qu'aucune d茅cision n'a 茅t茅 prise concernant la proposition de Hillhouse et qu'il n'y a aucune garantie qu'un accord d茅finitif soit conclu ni que la transaction aboutisse.
Energy Monster (NASDAQ: EM), ein Anbieter von Ladediensten f眉r mobile Ger盲te, hat ein konkurrierendes 脺bernahmeangebot von Hillhouse Investment Management erhalten, das 1,77 USD je ADS bzw. 0,885 USD je Aktie in bar bietet. Dieses neue Angebot folgt auf die Bekanntgabe des Unternehmens vom 1. August 2025 眉ber eine endg眉ltige Fusionsvereinbarung mit Trustar Capital und Mitgliedern des Managements.
Der spezielle Ausschuss unabh盲ngiger Direktoren, der nach Erhalt des ersten Angebots im Januar 2025 gebildet wurde, wird alle Optionen zusammen mit seinen finanziellen und rechtlichen Beratern pr眉fen. Der Vorstand betont, dass noch keine Entscheidungen bez眉glich des Angebots von Hillhouse getroffen wurden und dass es keine Garantie f眉r einen endg眉ltigen Vertrag oder den Abschluss der Transaktion gibt.
- Competing acquisition bid indicates strong interest in the company's value
- Hillhouse's offer provides shareholders with an all-cash transaction option
- Special committee of independent directors ensures shareholder interests are protected
- Uncertainty regarding which deal will prevail creates market volatility
- Complex transaction structure with management rollover requirements
- Extended timeline since initial January 2025 proposal suggests lengthy completion process
Insights
Hillhouse's $1.77/ADS bid creates a competitive acquisition scenario for Energy Monster, potentially benefiting shareholders through a higher valuation.
Energy Monster has received a competing acquisition proposal from Hillhouse offering
Analyzing the timeline: the original buyout proposal from Trustar and management came in January 2025, with a definitive agreement reached by August 1st. Hillhouse's counter-offer arrived just two weeks after that agreement was announced, suggesting they see untapped value in Energy Monster's mobile charging business model.
The special committee of independent directors now faces the crucial task of evaluating both offers to maximize shareholder value. While the press release doesn't specify the Trustar offer price for comparison, the committee must determine if Hillhouse's bid represents superior value and if a potential bidding war might emerge.
The transaction structure appears to involve management rollover provisions in both deals, where key executives would retain equity stakes rather than receiving full cash consideration - a common approach in take-private transactions to align management incentives with the new ownership structure.
For minority shareholders, this competing bid creates potential leverage to extract higher value, though the outcome remains uncertain as the board emphasizes no decisions have been made regarding Hillhouse's proposal.
SHANGHAI, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Smart Share Global Limited (Nasdaq: EM) (鈥淓nergy Monster鈥� or the 鈥淐ompany鈥�), a consumer tech company providing mobile device charging service, today announced that the board of directors received a preliminary non-binding proposal letter, dated August 13, 2025, from Hillhouse Investment Management, Ltd. (together with its affiliates, 鈥淗illhouse鈥�) to acquire all of the outstanding ordinary shares of the Company that are not already beneficially owned by Hillhouse or the Management Members (as defined below) for US
On August 1, 2025, the Company announced that it had entered into a definitive Agreement and Plan of Merger (the 鈥淢erger Agreement鈥�), pursuant to which the Company will be acquired by Trustar Mobile Charging Holdings Limited (together with its affiliates, 鈥淭rustar Capital鈥�), Mr. Mars Guangyuan Cai (鈥淢r. Cai鈥�), Chairman of the Board and Chief Executive Officer of the Company, Mr. Peifeng Xu (鈥淢r. Xu鈥�), Director and President of the Company, Mr. Victor Yaoyu Zhang (鈥淢r. Zhang鈥�), Chief Marketing Officer of the Company, and Ms. Maria Yi Xin, Director and Chief Financial Officer of the Company (鈥淢s. Xin鈥�, together with Mr. Cai, Mr. Xu and Mr. Zhang, the 鈥淢anagement Members鈥�, and together with Trustar Capital, the 鈥淐onsortium鈥�). For more details about the Merger Agreement, please refer to the Form 6-K furnished by the Company with the SEC on August 1, 2025.
The special committee of the Company鈥檚 independent directors, which was formed following receipt of a preliminary non-binding proposal letter, dated January聽5, 2025, from the Consortium will continue to consider and evaluate all options for the best interests of shareholders with the assistance of the special committee鈥檚 independent financial and legal advisors.
The Board cautions the Company鈥檚 shareholders and others considering trading the Company鈥檚 securities that no decisions have been made with respect to this proposal from Hillhouse. There can be no assurance 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 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.
ABOUT SMART SHARE GLOBAL LIMITED
Smart Share Global Limited (Nasdaq: EM), or Energy Monster, is a consumer tech company with the mission to energize everyday life. The Company is the largest provider of mobile device charging service in China with the number one market share. The Company provides mobile device charging service through its power banks, which are placed in POIs such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs and public spaces. Users may access the service by scanning the QR codes on Energy Monster鈥檚 cabinets to release the power banks. As of December聽31, 2024, the Company had 9.6 million power banks in 1,279,900 POIs across more than 2,200 counties and county-level districts in China.
CONTACT US
Investor Relations
Hansen Shi
[email protected]
SAFE HARBOR STATEMENT
This press release contains forward-looking statements. These statements are made under the 鈥渟afe harbor鈥� provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words or phrases such as 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥渢arget,鈥� 鈥渁im,鈥� 鈥渆stimate,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥渂elieve,鈥� 鈥減otential,鈥� 鈥渃ontinue,鈥� 鈥渋s/are likely to,鈥� or other similar expressions. Among other things, the business outlook and quotations from management in this announcement, as well as the Company鈥檚 strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission (鈥淪EC鈥�), in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company鈥檚 beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Energy Monster鈥檚 strategies; its future business development, financial condition and results of operations; the impact of technological advancements on the pricing of and demand for its services; competition in the mobile device charging service industry; Chinese governmental policies and regulations affecting the mobile device charging service industry; changes in its revenues, costs or expenditures; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company鈥檚 filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
FAQ
What is the acquisition offer price for Energy Monster (NASDAQ: EM) from Hillhouse?
Who are the competing bidders for Energy Monster's acquisition?
When did Energy Monster receive the initial acquisition proposal?
What is the current status of Energy Monster's acquisition process?
Who are the management members involved in the Energy Monster acquisition?
