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Autohome Inc. Special Committee Appoints Legal Counsel


Autohome Inc. ATHM, -2.71% ("Autohome" or the "Company"), the leading online destination for automobile consumers in China, today announced that the special committee (the "Special Committee") of the Company's board of directors (the "Board") has appointed Akin Gump Strauss Hauer & Feld as its legal counsel. As previously announced, the Company's Board formed the Special Committee to consider, review and evaluate a previously announced non-binding "going-private" proposal that the Board received on April 16, 2016 from a consortium comprised of Mr. James Zhi Qin, a director and the chief executive officer of the Company, Boyu Capital Advisory Co. Ltd, Hillhouse TBC Holdings L.P. and Sequoia China Investment Management LLP (the "Proposal"). In addition, the Company has retained Skadden, Arps, Slate, Meagher & Flom LLP as its U.S. legal counsel in connection with the potential "going-private" transaction contemplated by the Proposal.

The Special Committee is considering the Proposal. The Company cautions its shareholders and others considering trading in its securities that neither the Board nor the Special Committee has made any decision with respect to the Company's response to the Proposal. The Special Committee has not set a definitive timetable for the completion of its evaluation of the Proposal or any other alternative and does not currently intend to announce developments unless and until an agreement has been reached. There can be no assurance that any definitive offer will be made, that any agreement will be executed, or that the Proposal or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to the Proposal or any other transaction, except as required under...