Actionable news
All posts from Actionable news
Actionable news in ATHM: AUTOHOME Inc,

Autohome CEO and Private-Equity Backers Make Take-Private Bid, Top Ping An Offer

Chinese car trading web site Autohome (ATHM - Get Report) found itself at the center of a potential tug-of-war after its CEO, backed by three Asia-focused private-equity shops, offered to pay $3.57 billion for the business.

The bid, announced late Friday, came hours after China's Ping An Insurance Co. said it had agreed to buy a 48% stake in Autohome from the site's largest shareholder, Telstra (TLSYY) , in a deal valuing the business at $3.33 billion.

CEO James Zhi Qin, Boyu Capital, Hillhouse Capital and Sequoia China made a non-binding offer of $31.50 a share. The offer...