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Why 58.com Stock Was Up Today

TheMotleyFool

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Shares of Chinese classified-ad company 58.com (NYSE: WUBA) traded higher on Monday, after the company entered into a definitive agreement that will take it private. As of 2 p.m. EDT today, the stock was up 10%.

58.com previously reported it had received a buyout offer. But the terms of today's announcement are a little better for shareholders.

Image source: Getty Images.

Source Fool.com

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