Deals
Alibaba Group Offers $2.5 Billion to Buy Out Listed Unit
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Alibaba.com Ltd., China’s biggest corporate e-commerce site, jumped the most in more than four years after its parent company bid as much as HK$19.6 billion ($2.5 billion) to buy out minority shareholders.
Alibaba Group Holding Ltd., run by billionaire Jack Ma, offered HK$13.50 a share for the 27 percent it doesn’t already own in Alibaba.com, according to a statement yesterday. Shares climbed 43 percent, the most since November 2007, to HK$13.20 at the 4 p.m. close of trading in Hong Kong.