Momo Receives A Commitment From Alibaba To Go Private

SEEKING ALPHA – Feb 24 – Momo named Alibaba’s vice chairman Joseph Tsai to its board. This move represents a commitment from the Chinese giant to help Momo’s management to take it private. Last summer, executives at Momo proposed to acquire all of the American shares they don’t already own for $18.90 each in cash. The management of Momo currently owns about 48% of the company’s outstanding shares and has 84% of the voting power. Momo is known to be a Chinese version of Tinder.

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Summarized by the Courtland Brooks team

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