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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