Two Chinese firms have launched a joint bid to buy Chinese e-commerce company Dangdang.
Imeigu.com, a Beijing-based information provider on US stock markets, and the conglomerate China Huaxi Group announced on Thursday night that they had offered to buy New York-listed Dangdang at 8.8 US dollars per share, which was 12.6 percent higher than the price set by Dangdang’s internal acquisition team.
Going public in 2010, Dangdang.com used to dominate online book sales. However, the business has been under threat from Amazon China as well domestic giants such as Alibaba and JD.com.
(Source: Shanghai Daily)