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Youku Tudou Special Committee Engages Financial Advisor And Legal Counsel

The following excerpt is from the company's SEC filing.

BEIJING, China, October 22, 2015 Youku Tudou Inc. (NYSE: YOKU), a leading multi-screen entertainment and media company in China (Youku Tudou or the Company), today announced that the independent special committee of the Companys Board of Directors (the Special Committee) has retained J.P. Morgan Securities (Asia Pacific) Limited as its financial advisor, Skadden, Arps, Slate, Meagher & Flom LLP as its U.S. legal counsel and Conyers Dill & Pearman as its Cayman Islands legal counsel in connection with its review and evaluation of the nonbinding proposal, dated October 16, 2015, from Alibaba Group Holding L imited (Alibaba) for a going-private transaction in which it would acquire all of the outstanding ordinary shares of the Company, including ordinary shares represented by American depositary shares (each representing 18 ordinary shares of the Company), that are not owned by Alibaba.

The board of directors cautions the Companys shareholders and others considering trading in its securities that no decision has been made on the response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed...