Sina Corp. (SINA) Jumps As Analyst Sparks Wild Takeover Rumor
Tweet
Share
E-mailGet Alerts SINA Hot Sheet
Join SI Premium – FREE
Shares of Sina Corp. (Nasdaq: SINA) are jumping in pre-open trading Wednesday after an analyst at Susquehanna said China search giant Baidu (Nasdaq: BIDU) should buy the company as a hedge against a potential Weibo threat.
According to the analyst, Weibo will likely compete with Baidu, more notably in 2013.
Baidu could make a $15 billion offer for SINA if the companies were in the U.S., but that's unlikely to happen in China.
Shares of SINA are up 4 percent on the speculation.
According to the analyst, Weibo will likely compete with Baidu, more notably in 2013.
Baidu could make a $15 billion offer for SINA if the companies were in the U.S., but that's unlikely to happen in China.
Shares of SINA are up 4 percent on the speculation.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Baidu (BIDU) PT Lowered to $150 at Benchmark on Near-Term Margin Concerns
- JD.com, Inc (JD) PT Lowered to $30 at Susquehanna
- Eightco reports $389M in holdings, repurchases 14M shares
Create E-mail Alert Related Categories
Momentum Movers, RumorsRelated Entities
Susquehanna International Group of CompaniesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
