The Chinese ecommerce giant is seeking to take full control of New York-listed Youku Tudou, the Chinese video hosting site in which it acquired a stake in 2014.
Alibaba is proposing to buy all of the shares it doesn't already own in Youku Tudou for $26.60 a share in cash. Shares in Youku Tudou closed on Thursday at $20.43.
Alibaba said it had made the proposal with the support of the founding shareholders of Youku, including Victor Koo, Chengwei Capital and their affiliates.
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