Thursday March 28, 2024 | Last Update: March 28, 2024 EDT
Alibaba Group Holding Limited announced in a press release that it will be acquiring Youku Tudou, Inc. in an all-cash transaction. Jack Ma, the founder and executive chairman of Alibaba Group, is looking to stream more content to Chinese Internet through Youku.
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Alibaba Group announced in a press release that it has made a non-binding proposal to acquire all the outstanding shares of Youku Tudou, Inc., including all the American depository shares (ADS) that Alibaba doesn’t already own. The transaction would expand the existing partnership between Alibaba and Youku Tudou.
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