Shares of Youku Tudou Inc. (YOKU) soared more than 20% in pre-market trading Friday after the company said that it has received a nonbinding proposal from Alibaba Group Holding Limited (BABA) for a "going private" transaction in which it would acquire all of the outstanding shares of the company, including ordinary shares represented by American depositary shares (ADS), that are not owned by Alibaba for $26.60 per ADS in an all-cash transaction.
The Chinese e-commerce giant Alibaba is making the proposal with the support of Youku's founding shareholders, including Victor Koo, Chengwei Capital and their affiliates.
Youku Tudou is a leading multi-screen entertainment and media company in China.
Investment analysts at Cantor Fitzgerald initiated coverage on Genpact Limited (G) with a Buy rating and a price target of $27.00 per share
Genpact provides business process outsourcing and information technology services worldwide.
WNS (Holdings) Ltd. (WNS) was initiated with a Buy rating at Cantor Fitzgerald. The brokerage firm has set a price target of $35.00 on the company's stock
WNS (Holdings) is a leading global business process management company.
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