logo
Share SHARE
FONT-SIZE Plus   Neg

Alibaba.com Shareholders Urged To OK Privatization Proposal - Quick Facts

Alibaba.com Ltd.'s (ALBCF.PK) Independent Board Committee and the Committee-appointed independent financial advisor have concluded that the privatization proposal is fair and reasonable as far as independent shareholders are concerned and recommended that they vote in favor of the proposal.

The proposal offers minority shareholders HK$13.50 per share in cash, impling a 60.4 percent premium over the 60-day average closing price of Alibaba.com shares before the privatization announcement on Feb 21; a 55.3 percent premium over the 10-day average closing price; and a premium of 45.9% over the closing price of Alibaba.com shares on the last trading day before the Feb 21 announcement. Alibaba Group would not increase the offer price.

The company said that a major factor driving Alibaba Group's decision to privatize its publicly traded unit is to provide minority shareholders with an opportunity to realize their investment in Alibaba.com at a significant premium over the current market price, while Alibaba.com implements a shift in its business strategy.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Delta Air Lines Inc. (DAL) pilots, represented by the Air Line Pilots Association International, are picketing on Friday at several airports across the country. The pilots said the picketing was to raise the sense of urgency in ongoing contract negotiations. The negotiations between the pilots... Charter Communications, and its recently acquired subsidiary Time Warner Cable, have been regularly overcharging its consumers to a tune of $7.2 million per year, according to a report from the U.S. Senate's Permanent Subcommittee on Investigations. According to the report, Time Warner Cable over-billed... Popular photo sharing network Instagram is adding a new translation button on its pages, so that the global crowd can read and enjoy the captions and comments given for the photographs uploaded. The new update will be available from next month onward.
comments powered by Disqus
Follow RTT