By Dean Seal
Shares of Despegar have surged close to the price that Prosus, Tencent's largest shareholder, has offered to pay for the Latin American online travel agency.
The stock was up 33% to $19.48 in premarket trading. Shares had already gained 55% year-to-date when the market closed last week.
The Amsterdam-listed investment group Prosus, which owns a $114 billion stake in Tencent, has agreed to acquire Despegar for $19.50 a share. The deal will be funded by existing cash.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
December 23, 2024 08:57 ET (13:57 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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