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China's Bitauto gets buyout proposal from Tencent, Hammer Capital

Bitauto Holdings Ltd said on Friday it has received a buyout proposal from Tencent Holdings Ltd and Hammer Capital for shares they don't own in the Chinese online marketer.

Sept 13 (Reuters) - Bitauto Holdings Ltd BITA.N said on Friday it has received a buyout proposal from Tencent Holdings Ltd 0700.HK and Hammer Capital for shares they don't own in the Chinese online marketer.

The offer of $16 per share was at a premium of 16.4% over Bitauto's Thursday closing price.

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Arun Koyyur)

((supantha.mukherjee@thomsonreuters.com; within U.S.+1 646 223 8780, outside U.S. +91 80 6749 6101; Reuters Messaging: supantha.mukherjee.thomsonreuters.com@reuters.net))

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