Tongcheng Travel Plans to Make a General Offer to Acquire Dida Chuxing

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Mars Finance News, June 29 - According to a joint announcement by Tongcheng Travel and Dida Chuxing, Tongcheng Travel will initiate a voluntary conditional general cash offer to acquire all shares of Dida Chuxing through its wholly-owned subsidiary, eLong, Inc. The scope of this tender offer includes all issued shares of Dida Chuxing, and it will simultaneously handle the rights related to unexercised share options and restricted share units (RSUs). This transaction has received support from Dida Chuxing's core shareholders. Five major shareholders of Dida Chuxing have signed irrevocable commitment letters, and the shares intended to accept the offer account for approximately 53.70% of Dida Chuxing's issued share capital. The announcement states that this acquisition is not aimed at privatizing Dida Chuxing. After the transaction is completed, Tongcheng Travel intends to maintain Dida Chuxing's listing status on the Hong Kong Stock Exchange. (Guangjiao Observation)
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