Alibaba ($BABA) has withdrawn its IPO application for Cainiao and intends to propose an offer to minority shareholders of Cainiao instead.
Alibaba Group plans to purchase all remaining shares of Cainiao, which they do not currently own, for a maximum of $3.75 billion.
This action will strengthen their control over the logistics division, offering Cainiao shareholders the choice to either sell their shares for cash or maintain ownership.
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