Alibaba Proposes To Acquire Youku Tudou In All-cash Deal - Quick Facts

(RTTNews) - Alibaba Group (BABA) announced that it made a non-binding proposal to the board of Youku Tudou Inc. (YOKU) to acquire all outstanding shares of Youku, including shares represented by ADSs, that it does not already own for $26.60 per ADS. Alibaba stated the company is making the proposal with the support of the founding shareholders of Youku, including Victor Koo, Chengwei Capital and their affiliates.

Under Alibaba's proposal, Youku's founder, Victor Koo, would continue to lead the business as chairman and CEO.

In May 2014, Alibaba made an initial strategic investment in Youku and owns 18.3% of the outstanding share capital of Youku.