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Alibaba Offers to Buy China Video Site Youku in $3.6B Deal

E-commerce giant Alibaba says it is offering to buy up the rest of Chinese video streaming site Youku Tudou, in its latest move to branch out beyond its core business of online shopping. Alibaba Group Holdings said Friday that it already owns 18.3 percent of Youku Toudou's U.S.-listed shares and has proposed to buy the remaining stock for $26.60 in cash per share. The offer price is 30.2 percent higher than Youku's last closing price on the New York Stock Exchange. After...

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