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Tencent Offers to Acquire eLong
- Client News
- August 4, 2015
Practices
As reported by The Wall Street Journal and other media outlets, eLong Inc., a leading mobile and online travel service provider in China, announced that it has received a proposal from Paul, Weiss client Tencent Holdings Ltd., a leading provider of comprehensive Internet services in China, to take the U.S.-listed company private by acquiring all the outstanding ordinary shares of eLong that are not owned by its subsidiary TCH Sapphire LTD. The proposed price of $18 per American depositary share represents a 24 percent premium over the stock's closing price on July 31.
The Paul, Weiss team included corporate partners David Huntington, Steven Williams and counsel Paul Donnelly.