Back in January Shanda Games GAME announced a proposal of a going private transaction valued at $6.90 a share. The stock is currently at only $6.50 a share based off of Fridays close. This is about a 6% spread. I did some quick reading on this as I was unable to actually pull up the filing outlining it. The most official info I could pull up was that old press release. As far as I know this is still likely to get approved and become a done deal. I don't see how it wouldn't when "As of January 27, 2014, the Consortium members beneficially owned, in the aggregate, approximately 76.2% of the Company's outstanding shares" according to their press release. The only key thing I'm missing here is the limit on the number of shares one can hold.

0 comments