Tencent backs take-private for China travel site eLong
Tencent Holdings has offered to buy Chinese online hotel booking site eLong - which it holds a 15% stake - and privatize the NASDAQ-listed company.
According to a statement, Tencent is willing to pay $18 per share for all outstanding American Depositary Shares (ADS), which represents a premium of 24.1% to the closing price on the last trading day...
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