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Monday, November 25, 2013

Game developer Giant Interactive gets $2.82 billion go-private bid, (NYSE: GA)

Chinese online game developer Giant Interactive Group Inc said it received a non-binding proposal from its chairman Yuzhu Shi and an affiliate of Baring Private Equity Asia to take the company private for $11.75 per American Depositary Share. The offer represents a premium of 16 percent to the company's ADS's closing price on the New York Stock Exchange on Friday.The consortium expects to finance the deal, which values the company at about $2.82 billion, with a combination of debt and equity capital.Giant Interactive said the consortium owned about 47.2 percent of the company's shares as of Nov. 25.

Giant Interactive Group Inc. (Giant Interactive) is an online game developer and operator in China. Shares of GA remained unchanged at $10.13. In the past year, the shares have traded as low as $5.00 and as high as $10.15. On average, 1211990 shares of GA exchange hands on a given day and today's volume is recorded at 0.