Youku To Buy Tudou

Youku Inc

announced its plans to buy Tudou Holdings Ltd

in a 100% stock-for-stock transaction. Upon completion of the transaction, the combined entity will be named Youku Tudou Inc. YOKU shares dropped 3.84% to $24.05 in pre-market trading, while TODU shares jumped 55.23% to $23.89 in pre-market trading.