China travel site agrees Tencent-backed take-private
Chinese online hotel booking site eLong has agreed to buyout led by a consortium of existing shareholders, including Tencent Holdings and Ctrip. The deal values the company at approximately $647 million.
Vehicles controlled by Tencent and Ctrip, plus two other entities of unspecified origin, will pay $18.00 per share for all outstanding American Depository Shares (ADS) in eLong, according to a filing....
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