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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| (MM) | NASDAQ:AMAP | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 20.90 | 0 | 01:00:00 |
From Jun 2019 to Jun 2024
Chinese online map company AutoNavi Holdings Ltd. said it has agreed to be bought out by Alibaba Group Holding Ltd.
AutoNavi on Friday said it agreed to the deal--worth $21 an American depositary share, or $1.13 billion--which was first proposed in February. The price represents a 27% premium over the company's ADS closing price Feb. 7, which was the last trading day before the go-private offer was announced.
Alibaba already owns about 28% of AutoNavi, buying the stake in May of last year for $294 million.
The deal is expected to close in the third quarter, AutoNavi said.
Alibaba--which is preparing for its much-hyped initial public offering later this year in New York--has been on a buying spree lately as it competes with rival Chinese e-commerce company Tencent Holdings Ltd. over mobile users' spending habits.
Write to Michael Calia at michael.calia@wsj.com
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