Focus Media Holding Ltd. (FMCN)

[mlkrborn]

FMCN $21.00s and acquiring a 15 percent stake in VISN.
Focus Media Holding (NASDAQ: FMCN - News), China's largest digital media company, agreed to 15.3 million VisionChina Media (NASDAQ: VISN - News) shares for $61 million, giving Focus Media at 15% stake in the VisionChina, which specializes in ads that are run on buses, subways and other mass transportation outlets. VisionChina is up 18% on the news while Focus Media is up 4%.

Entities owned by Focus Media Chairman and Chief Executive Jason Nanchun Jiang and VisionChina Media CEO Limin Li each will acquire 1 million shares for about $4 million, according to the Wall Street Journal.

Focus Media paid $3.98 for each VisionChina American depositary receipt it acquired, a 2.8% premium to where the shares closed yesterday. The deal is expected to be completed in January.