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Alibaba Group Announces Non-Binding Proposal to Acquire All Outstanding Shares of Youku Tudou for $26.60/Share in Cash

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Alibaba Group (NYSE: BABA) today announced that it made a non-binding
proposal to the board of directors of Youku Tudou Inc. (NYSE: 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

Posted-In: News Offerings M&A Press Releases


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