Despegar.com (DESP) Shares Surge Over 32% on Acquisition News

1 day ago

Despegar.com Corp (DESP, Financial) saw its stock surge over 32% in pre-market trading, reaching $19.43. This significant increase follows the announcement that Prosus NV, the largest shareholder of Tencent and a major internet investment firm, plans to acquire Despegar.com for $1.7 billion.

Prosus is strategically deploying capital with the aim of doubling the company's overall value within four years, according to its CEO. The firm has offered $19.50 per share for Despegar.com, which represents a 33% premium over the closing price on December 20.

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