Skip to main content

Market Overview

Baidu Receives Non-Binding Proposal To Acquire, Shares Gain 4%


Shares of Baidu Inc (ADR) (NASDAQ: BIDU) were trading higher by more than 4 percent early Friday morning after the company received a non-binding offer to fully acquire

Baidu already owns approximately 80 percent Qiyi, a China-based internet video site.

Qiyi approached Baidu and proposed to acquire all the outstanding shares it doesn't already own in a deal that values the company at $2.8 billion.

Baidu noted in its press release that Qiyi will remain a "strategic partner" of Baidu but added that it can not make any assurances it will acquire the remainder of the company. The company has formed a special committee of independent directors to evaluate the proposal.


Related Articles (BIDU)

View Comments and Join the Discussion!

Posted-In: Baidy China Internet Companies Qiyi.comM&A News

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at