Alibaba Goes Private

Alibaba Group Holdings Ltd.’s plan to take back control of the company got another boost as minority shareholders voted in favor of taking the company’s Hong Kong-listed unit private.

Alibaba Group will pay HK$13.50 per share for the 27% stake it doesn’t already own in publicly-traded Alibaba.com. The move is part of its plan to assert more control over the company without the pressures of being listed, and comes after a deal was struck earlier this week over Yahoo Inc.’s 40% stake in Alibaba.

Source:  Wall Street Journal

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