Alibaba Made $1.58 billion Offer for Chinese Maps & LBS Vendor AutoNavi

Alibaba, China’s largest e-commerce firm, offered to buy digital map and LBS vendor AutoNavi for$1.58 billion. The all-cash offering represented a premium of almost 40 percent against the stock price in the recent months. Alibaba, already owns 28 percent of AutoNavi a purchase that was made eight months ago for $294 million, a deal that value…