(Corrects paragraph 2 to say deal value is $1.58 billion, not
Feb 10 Chinese digital mapping and navigation
firm AutoNavi Holdings Ltd said it had received an
offer to be taken private by major shareholder Alibaba Group
Holding Ltd IPO-ALIB.N.
Alibaba has offered to buy the 72 percent of AutoNavi that
it does not already own for $21 per American depository share,
valuing the company at $1.58 billion.
The offer represents a premium of 27 percent to AutoNavi's
Friday close of $16.54 on the Nasdaq.
(Reporting By Sampad Patnaik in Bangalore; Editing by Saumyadeb