Investment company to acquire online game producer
Giant Investment Ltd will acquire leading Chinese online game company Giant Interactive Group for $3 billion and take it private, according to the US-listed company on Monday.
Giant Investment adjusted its offer to $12 per share, an 18.5 percent premium to the US-listed Giant Interactive's closing price on Nov 22, 2013 (before Giant Investment's M&A plan).
The transaction is expected to be finished in the second half of 2014.
Giant Interactive said the buyer group including Giant Interactive chairman Shi Yuzhu and Baring Private Equity Asia already owns 49.3 percent of shares in the company.
On Nov 25, Giant Interactive announced it had received a takeover bid from the buyer group.
