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Shanda Going Private… Going, Going, Gone (SNDA)

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By Jon C. Ogg Published

Shanda Interactive Entertainment Limited (NASDAQ: SNDA) has entered into merger agreement with Premium Lead Company Limited and New Era Investment Holding Ltd.  While this may be a premium over the last 30 days, the premium to current ADR prices is fairly small. The parent acquirer (Premium Lead) will pay $41.35 per ADS.  The new deal comes to about $2.3 billion on a fully diluted basis.

The deal is represented as being a 26.6% premium over the 30 trading day volume-weighted average price from the last trading day prior to the announcement on October 17, 2011 that it had received a proposal to go private.

Shanda has Shanda Games, Cloudary, Ku6 Media, and various other online community and business units; these range from MMORPGs and advanced casual games, to social network games, e-sports, literature, film, television, music, and video etc.

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Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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