Skadden, Arps, Slate, Meagher & Flom, Kirkland & Ellis, Gibson, Dunn & Crutcher and Harneys Westwood & Riegels are advising on the US$2.6 billion take-private of Sina Corp., which owns one of China’s largest social media platforms—Weibo.

Sina has agreed to a take-private contract with its largest shareholder, New Wave Holdings Ltd., owned by Charles Chao. At US$43.40 per share in cash, the deal represents a sweetened deal. New Wave had submitted a preliminary non-binding proposal to take-private Sina earlier in July.