POTENTIAL DEAL DETAILS
|Stock||Bitauto Holdings Limited||Symbol||BITA|
|Date Announced||09/13/2019||Source||Press Release|
|Type||Unsolicited Bid||Acquiring Company/Person||Morespark Limited|
|Date of Confirmation:||06/12/2020||Price at Confirmation:||$15.70|
|Potential Profit:||5.02%||Annualized Profit:||6.71%|
Bitauto Holdings Limited (BITA), a leading provider of internet content & marketing services, and transaction services for China’s fast-growing automotive industry, today announced that its Board of Directors has received a preliminary non-binding proposal letter, dated September 12, 2019, from Tencent Holdings Limited and Hammer Capital, proposing to acquire all of the outstanding ordinary shares of Bitauto not already owned by the Buyer Group or their affiliates for US$16 in cash per American depositary share in a going private transaction.
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.