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Rakuten Jumps Most in 5 Months After Deal to Buy Ebates

Rakuten Inc. rose the most in five months after it agreed to buy U.S. rebates website Ebates Inc. in Japan’s largest e-commerce deal, a move that will more than double the e-retailer’s transactions from overseas.

Rakuten will pay $1 billion in cash for all of Ebates, it said yesterday. San Francisco-based Ebates offers cash rebates to customers who buy products ranging from laptops to lipsticks from the website’s retail partners.