Weibo Owner Sina Going Private in $2.59 Billion Deal

Weibo Owner Sina Going Private in $2.59 Billion Deal

Scratch another big tech company off the list of Chinese stocks traded in the U.S. Online media conglomerate Sina (NASDAQ: SINA) announced today that it is being taken private by companies affiliated with its CEO, Charles Chao. The company pointed out in the press release trumpeting the deal that the premium climbs to 18% if applied to the share price on July 2. At the time, the proposed share price was $41.