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
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