Alibaba.com says 83.8 percent of shareholders back privatization
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HONG KONG (Reuters) - Alibaba.com Ltd , Hong Kong-listed unit of China's Alibaba Group , said on Friday that 83.8 percent of its shareholders have approved a $2.5 billion buyout offer by the parent to take the company private, in a decision that was widely expected. Alibaba Group, in which Yahoo Inc owns a 40 percent stake, is offering investors HK$13.50 ($1.74) per share in cash to take Alibaba.com private, the same price as the company's initial public offering in 2007. Shares of Alibaba.com, which were suspended on Friday, closed on Thursday at HK$13.42. ...
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Real Estate: Business: Alibaba.com says 83.8 percent of shareholders back privatization
Date Listed : Friday, May 25, 2012
Source : Yahoo! News: Business, Business; Copyright (c) 2005 Yahoo! Inc. All rights reserved.
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