Weibo-owner Sina gets buyout bid at 12per cent premium from CEO-led company

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

Sina Corp , the owner of media social platform Weibo, said on Monday it had received a go-private offer of US$41 per share in cash from a holding ...

Sina Corp , the owner of media social platform Weibo, said on Monday it had received a go-private offer of US$41 per share in cash from a holding company led by its Chief Executive Officer Charles Chao.

The transaction stands at a value of about US$2.7 billion, according to Reuters calculations based on the current outstanding shares and represents a premium of nearly 12per cent as of Friday's stock closing price.New Wave, which is controlled by Chao, already owns 12.15per cent stake in Sina, according to Refinitiv-Eikon data.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Siemens sees up to 20% drop in business in April-June quarter, CFO tells BoersenzeitungGerman engineering company Siemens saw the volume of business contract by as much as 20per cent in the three months to June and activity in 2021 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »