(Reuters) - Chinese digital mapping and navigation firm AutoNavi Holdings Ltd agreed to be acquired by e-commerce firm Alibaba Group Holding Ltd for $1.5 billion.
AutoNavi said the company's shareholders will receive $5.25 per ordinary share, or $21 per American Depositary Share. The offer represents a premium of 4.7 percent to AutoNavi's closing price on the Nasdaq on Thursday.
Alibaba, which owns 28 percent of AutoNavi, offered to buy the company in February to expand its product offerings to better compete with rivals Tencent Holdings Ltd <0700.HK> and Baidu Inc
(Reporting by Soham Chatterjee; Editing by Don Sebastian)
Relacionados
- Ignacio Diego afirma que los "bolsillos" del PP cántabro están "bien limpios y bien claros"
- Diego afirma que los "bolsillos" del PP cántabro están "bien limpios y bien claros"
- El senador cántabro González Vega (PSOE), elegido miembro de la Ponencia de estudio sobre la despoblación rural
- El Gobierno cántabro invierte 55,4 millones en dos años en el Besaya