Alibaba Group Announces Non-Binding Proposal to Acquire All Outstanding Shares of Youku Tudou
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Alibaba (BABA) Announces Acquisition of Remaining YOKU Shares; Wedbush Cuts Price Target to $75
October 19, 2015 8:33 AM EDTWedbush maintained a Neutral rating on Alibaba (NYSE: BABA), and cut the price target to $75.00 (from $80.00), following announced acquisition of remaining YOKU shares for $3.5 billion. The acquisition will be funded by BABAs cash on hand.
Analyst Gil Luria commented, "We believe... More
Summit Research Reiterates Buy on Alibaba (BABA) Ahead of November 11th Shopping Day
October 19, 2015 7:26 AM EDTSummit Research reiterated a Buy rating and $81.00 price target on Alibaba (NYSE: BABA) ahead of the November 11th shopping day. We believe this years shopping event will showcase Alibabas global strategy and cross-border commerce capability. Alibaba estimates there will be more than 5,000 international... More
Alibaba (BABA) Proposes $26.60/ADS Acquisition of Youku Tudou (YOKU)
October 16, 2015 6:11 AM EDTAlibaba 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... More
