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Stock Market & Financial Investment News

News Breaks
April 28, 2014
09:18 EDTGAMEShanda Interactive adds FV Investment to become part of consortium agreement
Shanda Games has been informed by Shanda Interactive Entertainment Limited that FV Investment Holdings, an affiliate of FountainVest Partners, entered into an adherence agreement on April 25 to become a party to the consortium agreement dated as of January 27 among Shanda Interactive, Primavera Capital Fund I L.P., an affiliate of Primavera Capital Limited, and Perfect World Co., and participate as a new member of the consortium in the proposed "going private" transaction with respect to Shanda Games. The Consortium submitted a preliminary non-binding proposal letter to the board of Shanda Games. According to the Proposal, the Consortium proposed to acquire Shanda Games in a "going private" transaction for $3.45 per class A or class B ordinary share of Shanda Games, or US$6.90 per ADS.
News For GAME From The Last 14 Days
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December 8, 2014
10:17 EDTGAMEShanda Games informed of new consortium to acquire company
Shanda Games has been informed that Yili Shengda Investment and certain of Yili's affiliates filed a statement on Schedule 13D with respect to Shanda Games on December 5, 2014. According to the 13D Statement, Ningxia Yilida Capital Investment and Ningxia Zhongyincashmere International Group entered into a consortium agreement on December 5, 2014 pursuant to which they have agreed to form a consortium to acquire the company in a "going private" transaction. As previously announced, the board of the company received a preliminary non-binding proposal letter dated January 27, 2014 from a consortium then consisting of Shanda Interactive Entertainment Limited and certain other parties. According to the SNDA Proposal, the SNDA Consortium proposed to acquire the company in a "going private" transaction for $3.45 per Class A Share or Class B Share, or $6.90 per ADS. The Special Committee has not set a definitive timetable for the completion of its evaluation of the Proposed Transaction or any other alternative transaction and does not currently intend to announce developments unless and until an agreement has been reached. The company cautions its shareholders and others considering trading its securities that there can be no assurance that any definitive agreement will be executed relating to the Proposed Transaction, or that the Proposed Transaction or any other transaction will be approved or consummated.

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