Firms That Spent Billions on M&A Are Now Selling for Peanuts [BNN Bloomberg (Canada)]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
Last alibaba group holding limited american depositary shares each representing eight ordinary share earnings: 2/13 06:45 am
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Source: BNN Bloomberg
Alibaba Group Holding Ltd. announced Tuesday it's going to sell Chinese department-store chain Intime to a local apparel group for $1 billion. The price is around 30% of the company's valuation when Alibaba bought it during the heady days of 2017. The internet giant, which has largely abandoned its acquisitive ways amid government pressure, said it will book a $1.3 billion loss on the transaction. The deal came a day after BlackBerry Ltd. said it would divest its Cylance endpoint security unit to software startup Arctic Wolf for $160 million plus a small amount of stock. That's a far cry from the $1.4 billion BlackBerry paid when it agreed to buy the business in 2018. Under BlackBerry's ownership, Cylance reported substantial losses and its revenue fell over 50%, according to Royal Bank of Canada analysts. The moves show how companies that were major acquirers during the boom times may sober up and regret those purchases only a few years later. Just last month, Just Eat Takeaway.
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BABA
Earnings
- 11/15/24 - Beat
BABA
Sec Filings
- 12/20/24 - Form 6-K
- 12/17/24 - Form 6-K
- 12/13/24 - Form 6-K
- BABA's page on the SEC website