POTENTIAL DEAL DETAILS
|Date Announced||04/02/2020||Source||Press Release|
|Type||Unsolicited Bid||Acquiring Company/Person||Quantum Bloom Group Ltd.|
|Date of Confirmation:||06/15/2020||Price at Confirmation:||$54.70|
|Potential Profit:||3.25%||Annualized Profit:||16.01%|
58.com Inc. (WUBA), China’s largest online classifieds marketplace, today announced that its Board of Directors has received a preliminary non-binding proposal letter dated Apr 2, 2020 from Ocean Link Partners Limited to acquire all of the outstanding ordinary shares of the Company.
April 20, 2020: 58.com Inc. (WUBA), China’s largest online classifieds marketplace, today announced that its Board of Directors has formed a special committee consisting of two independent directors, Mr. Robert Frank Dodds Jr. and Ms. Lily Li Dong, to evaluate and consider the previously announced preliminary non-binding acquisition proposal letter dated April 2, 2020 or any alternative strategic option that the Company may pursue.
June 15, 2020: An investor group backed by Warburg Pincus and General Atlantic agreed to take 58.com Inc. (WUBA) private in a deal valuing China’s biggest online classifieds firm at about $8.7 billion
Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.