Alibaba Group Announces Non-Binding Proposal to Acquire All Outstanding Shares of Youku Tudou for $26/Share in Cash

Alibaba Group BABA today announced that it made a non-binding proposal to the board of directors of Youku Tudou Inc. YOKU ("Youku") to acquire all outstanding shares of Youku, including shares represented by American depositary shares ("ADSs," each representing 18 ordinary shares of Youku), that it does not already own for US$26.60 per ADS in an all-cash transaction. The proposal is subject to satisfactory completion of due diligence by Alibaba and the negotiation of a mutually acceptable definitive merger agreement. In May 2014, Alibaba made an initial strategic investment in Youku and owns 18.3% of the outstanding share capital of Youku based on Youku's public filings. Digital entertainment is core to Alibaba's strategy of promoting See full press release