ZEEKR Intelligent Technology Holding (ZK) shareholders are claiming that Geely Automobile Holding's offer to take ZEEKR private undervalues the electric vehicle unit, Reuters reported Friday, citing unnamed sources familiar with the matter.

Geely on May 7 announced its offer to acquire ZEEKR shares that it does not already own and take the unit private. Geely offered $2.57 per ZEEKR share or $25.66 per American depositary share and said the offer price represents a 20% premium to the ADSs 30-day volume-weighted average price through May 6.

Sources told Reuters that five early investors in ZEEKR have raised concerns that the offer was too low and does not reflect ZEEKR's fair value. According to the report, this investor group includes Intel Capital, Boyu Capital, and Contemporary Amperex Technology.

Geely said it owned about a 65.7% stake in ZEEKR as of May 7.

Geely, ZEEKR, Boyu Capital, Intel Capital, and Contemporary Amperex Technology did not immediately respond to MT Newswires' requests for comments.

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