Perfect World joins consortium offering to buy out Shanda Games

Mon Apr 21, 2014 6:58am EDT

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(Reuters) - China's online game developer Perfect World Co Ltd said it joined the consortium offering to buy rival Shanda Games Ltd.

Perfect World said it would buy 30.3 million class A Shanda Games shares for $100 million from Shanda Interactive Entertainment Ltd, a shareholder in Shanda Games.

Shanda Interactive and an affiliate of investment firm Primavera Capital, who together own 76.2 percent of Shanda Games, offered to buy the company in a deal that valued it at $1.9 billion in January.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Savio D'Souza)

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Comments (1)
DavidKing27 wrote:
should file breach of fiduciary duty lawsuit against perfect world board of directors and senior management. Why Perfect World don’t buy back her own shares ex cash trading at less than 4 x 2014 earning with better growth but buy Shanda Game’s share at much higher valuation with decreasing earning?

Apr 21, 2014 12:03pm EDT  --  Report as abuse
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