Tongcheng Travel Proposes All-Cash Tender Offer for Dida Chuxing; Core Shareholders Support 53.7% on June 29

According to Jin10, Tongcheng Travel (00780.HK) announced on June 29 that it will launch a voluntary all-cash tender offer for all issued shares of Dida Chuxing (02559.HK) through its subsidiary eLong, Inc. Five major shareholders of Dida Chuxing have signed irrevocable undertakings to accept the offer, representing approximately 53.7% of the company's issued share capital. Tongcheng stated the acquisition does not aim to delist Dida Chuxing and plans to maintain its Hong Kong listing status post-transaction.
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