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IAC/InterActiveCorp Completes eLong Warrant Exercise
January 11, 2005 |
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IAC/InterActiveCorp (IACI) has successfully completed the purchase of 17,362,134 shares of high-vote ordinary stock of eLong.com (LONG) for $6.21 per high-vote ordinary share (the equivalent of $12.42 per ADS), or an aggregate cash purchase price of approximately $108 million.
As a result of the purchase, IAC now owns approximately 52% of the outstanding capital stock of eLong (on a fully diluted basis), representing approximately 96% of the total voting power of eLong.
IAC's investment in eLong will continue to be managed by IAC Travel — Asia Pacific, a division of IAC Travel, and its financial results will be consolidated with those of IAC, as part of IAC Travel.
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