Key Developments: Shanda Games Ltd (GAME.OQ)

GAME.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Shanda Games Ltd enters into definitive merger agreement with Capitalhold Limited
Friday, 3 Apr 2015 10:30am EDT 

Shanda Games Ltd:Enteres into agreement and plan of merger with Capitalhold Limited and Capitalcorp Limited, a wholly owned subsidiary of parent.Pursuant to agreement, Parent will acquire Shanda Games Limited for cash consideration equal to $3.55 per ordinary share and $7.10 per american depositary share, each representing two Class A ordinary shares, in a transaction valuing at about $1.9 bln.Says buyer group intends to fund transaction through cash contributions from Zhengjun Investment, Ningxia Silkroad, Zhongrong Legend or their affiliates pursuant to equity commitment letters entered into between Parent and each Sponsor.Says merger is currently expected to close in second half of 2015.  Full Article

Consortium to acquire Shanda Games Ltd adds new members
Monday, 16 Mar 2015 10:31am EDT 

Shanda Games Ltd:Informed by Ningxia Yilida Capital Investment Limited Partnership and Ningxia Zhongyincashmere International Group Co., Ltd that Ningxia Yilida, Ningxia, Orient Hongtai (Hong Kong) Limited Orient Hongzhi (Hong Kong) Limited , and Hao Ding International Limited enters into a consortium agreement.Pursuant to which they agreed to form a consortium to acquire Shanda Games Ltd in a going private transaction.  Full Article

Shanda Games Ltd announces management and board changes
Tuesday, 28 Oct 2014 03:45am EDT 

Shanda Games Ltd:Says Xiangdong Zhang has stepped down as ceo of the company and has been removed from the board and the compensation committee and the corporate development and finance committee with immediate effect.Says Yingfeng Zhang has been appointed as acting CEO and the Board will begin a global search for a permanent successor.Says Yingfeng Zhang has also been appointed as a member of the board, the compensation committee and the corporate development and finance committee.  Full Article

Perfect World Co Ltd enters into agreement to sell its shares in shanda games
Tuesday, 2 Sep 2014 10:00pm EDT 

Perfect World Co Ltd:Says that it has entered into a definitive agreement to sell a total of 30,326,005 class A ordinary shares of Shanda Games Limited, being the entire equity interest that Perfect World previously acquired.Pursuant to the agreement, the company will sell these shares to Shanghai Buyout Fund L.P., a third party unrelated to Perfect World, at a premium for a total consideration of $104,624,717 in cash.The transaction is expected to be consummated in 30 days.  Full Article

Perfect World Co Ltd enters into agreements to acquire shares in Shanda Games Limited
Monday, 21 Apr 2014 06:30am EDT 

Perfect World Co Ltd:Enters into share purchase agreement to acquire total of 30,326,005 class A ordinary shares of Shanda Games Limited.Pursuant to share purchase agreement, the Company will acquire these shares from wholly-owned subsidiary of Shanda Interactive Entertainment Limited, the controlling shareholder of Shanda Games for total consideration of $100 mln in cash.Purchase is expected to be consummated in 30 days.Perfect World has also enters into adherence agreement to become party to consortium agreement dated as of Jan. 27 between Shanda Interactive Entertainment Limited and Primavera Capital (Cayman) Fund I L.P., an affiliate of Primavera Capital Limited.To participate as new member of consortium in proposed going private transaction with respect to Shanda Games.Consortium has submitted a preliminary non-binding proposal letter dated January 27 t board of Shanda Games, whereby Consortium proposed to acquire Shanda Games in going private transaction for $3.45 per class A or class B ordinary share of Shanda Games, or $6.90 per ADS.  Full Article

Shanda Games Ltd announces receipt of non-binding proposal to acquire the company
Monday, 27 Jan 2014 09:01am EST 

Shanda Games Ltd:Says has received a preliminary non-binding proposal letter dated Jan. 27 from Shanda Interactive Entertainment Limited, the controlling shareholder of the company, and an affiliate of Primavera Capital Limited.Says according to the Proposal, the Consortium proposed to acquire the company in a going private transaction for$3.45 per class A or class B ordinary share, or $6.90 per American depositary shares.Says based on the offe price, the proposal values the company at about $1.9 bln in fully enlarged equity value.Says according to the Proposal, the offer price represents a premium of 21.3 pct to the company's volume-weighted average price of its ADSs on Jan. 24 and a premium of 44.4 pct to the volume-weighted average price of its ADSs during the last 30 trading days.Says according to the Proposal, the proposed transaction is intended to be financed with a combination of equity capital funded by the Consortium members and third-party debt.Says according to the proposal letter, Wilson Sonsini Goodrich & Rosati, P.C. is acting as U.S. counsel to Shanda Interactive Entertainment Limited and the Consortium as a whole, and Latham & Watkins is serving as U.S. counsel to Primavera Capital Limited.Says Davis Polk & Wardwell LLP is the Company's U.S. counsel.  Full Article

Shanda Games Ltd Comments On Q3 2013 Revenue Guidance
Wednesday, 28 Aug 2013 04:30pm EDT 

Shanda Games Ltd announced that for the third quarter of 2013 to increase between 3-4% from the second quarter. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $183 million for the third quarter of 2013.  Full Article

Gilman Law, LLP Announces Investigation On Shanda Games Ltd
Tuesday, 13 Aug 2013 12:20pm EDT 

Securities Attorneys at Gilman Law, LLP announced that they are investigating a recent acquisition announcement by Shanda Games Ltd. The Company announced that it will acquire the following affiliates from its parent company, Shanda Interactive Entertainment Limited - Shanghai Shengzhan Networking Technology Co., Ltd. (Shengzhan) and Tianjin Shengjing Trade Co., Ltd. (Shengjing). Both Shengzhan and Shengjing are under the common control of the parent company, along with Shanda Games.  Full Article

Shanda agrees to go private in a deal valued at $1.9 billion

- Chinese online game developer Shanda Games Ltd said that it has agreed to be taken private by Capitalhold Ltd and its unit Capitalcorp Ltd in a deal valued at $1.9 billion.

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