Renren Inc. (NYSE: RENN) ("Renren"), a leading real-name social networking internet platform in China, announced today that Baidu Holdings Limited, a subsidiary of Baidu, Inc. (NASDAQ: BIDU), Nuomi Holdings Inc. ("Nuomi") and Renren have entered into a definitive agreement, pursuant to which Baidu Holdings Limited will acquire Renren's remaining stake in Nuomi. Subject to the satisfaction or waiver of the closing conditions provided in the definitive agreement, the parties expect to close this acquisition in the first quarter of 2014.
BIDU, did not say anything either so shut up AH!!! Ink needs to dry... Chinese New Year and nothing gets done for 2 weeks... that's it folks.. We may be in quiet period then and then its no news till ER, CC.. Busy with other things so wait and wait some more... It cannot be later than end of Feb.28th, 2014. thank goodness.. LOL!!!
Well, the best I can say about renn is that it's holding the 3.00 line.....what really is going on inside the co is anyone's guess...who knows where the cash is...
They haven't even put out a press release that they Investor relations person left....another decision showing they don't really care about us investors...Sam and Joe run the show...Wall st votes against them on all upticks...shorted back down..