Alibaba: The acquisition offer reflects that Cainiao's valuation is 10.3 billion US dollars
2024-03-26 13:43:58
On March 26th, Alibaba held a temporary conference call to discuss the latest progress in withdrawing Cainiao's IPO application. Alibaba stated that the acquisition offer price reflects a Cainiao valuation of $10.3 billion. The Alibaba board of directors approved the offer after confirming that the price reflects fair value. Today, Alibaba has decided to withdraw Cainiao's listing application and make a cash tender offer to acquire all the equity of Cainiao's minority shareholders and the equity already owned by its employees. The acquisition involves a total amount of 3.75 billion US dollars.
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