06:49 AM EDT, 07/15/2025 (MT Newswires) -- Zeekr Intelligent Technology ( ZK ) said Tuesday that it has agreed to be acquired by Geely Automobile Holdings.

Zeekr said it will merge with a Geely unit and will continue to exist as a separate entity while becoming Geely unit.

Zeekr said shareholders can choose between receiving either $26.87 in cash per Zeekr ADS or receiving Geely shares at an exchange ratio of 1.23 Geely shares per Zeekr share.

The cash offer represents an 18.9% premium over Zeekr's closing price on May 6, the last trading day before the proposal was disclosed.

The cash for the merger will be funded through Geely's internal resources or, if necessary, debt financing.

The deal has been unanimously approved by Zeekr's board and a special committee of independent directors. Geely, which currently holds about 65.2% of Zeekr's voting shares, has committed to vote in favor of the deal.

The deal is expected to be completed in Q4, after which Zeekr will be delisted from the NYSE.