Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis have lead roles in the merger of rival Chinese online video hosting sites Youku, Inc. and Tudou Holdings Ltd.
Both Chinese companies are listed in the U.S. on the Nasdaq exchange. Under the terms of the agreement, the merger will see shares in Tudou cancelled. The company’s shareholders will receive shares in its bigger rival, Youku. The New York Times values the deal at about $1.1 billion.
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