Elliott and T. Rowe Price lose court bid over 58.com buyout

5 articles · Updated · Bloomberg · May 8

A Cayman Islands judge last week upheld the 2020 take-private at $56 per American depositary share, valuing China’s largest online classifieds platform at $8.7 billion.
The investor group that bought 58.com was backed by private equity firms Warburg Pincus and General Atlantic.
Dissenting investors had argued the pandemic depressed the company’s value and that they deserved more than the deal price.

When a pandemic crashes the market, is a deal's price or its process the truer measure of a company's fair value?

After this Cayman ruling, are activist lawsuits over take-private deals losing their power to unlock shareholder value?