Chinese online publisher Shanda Games has been offered a US$1.9 billion buyout proposal from the publically traded company’s major shareholders to take the firm private.
The offer was made by Shanda Interactive Entertainment, which is owned by Primavera Capital. The consortium currently controls 76.2 per cent of the company’s shares. The group would pay US$3.45 billion to acquire Shanda Games’ outstanding Class A shares, a premium of US$1.9 billion (21.3 per cent) over the company’s US share price.
Shanda Games’ board of directors will form an independent committee to evaluate the offer, the company has confirmed in a statement.
