Giant Investment Ltd will acquire Chinese online gaming company Giant Interactive Group Inc for $3 billion and take it private, the companies said on Sunday. Giant Investment sweetened its offer from the original $11.75 per share to $12, a 5.3 percent premium to Giant Interactive's closing price of $11.40 on Friday.The transaction is expected to close during the second half of 2014 and is subject to regulatory approval.Giant Interactive, whose main competitors are Changyou.com Ltd, Perfect World Co Ltd and NetEase Inc , said the bidding group already owned about 49.3 percent of its shares.The company is best known for its ZT Online and XT Online series.
Giant Interactive Group Inc. (Giant Interactive) is an online game developer and operator in China. Shares of GA traded higher by 1.79% or $0.2/share to $11.40. In the past year, the shares have traded as low as $6.09 and as high as $11.61. On average, 1094220 shares of GA exchange hands on a given day and today's volume is recorded at 1032478.
Perfect World Co., Ltd. is an online game developer and operator in People?s Republic of China. Shares of PWRD fell by 3.34% or $-0.77/share to $22.29. In the past year, the shares have traded as low as $9.72 and as high as $26.25. On average, 866279 shares of PWRD exchange hands on a given day and today's volume is recorded at 1281757.
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