Shanda Games Retains Bank Of America Merrill Lynch As Financial Advisor

(RTTNews) - Shanda Games Ltd. (GAME), a online game developer, operator and publisher in China, Thursday said its special committee of independent directors has selected Bank of America Merrill Lynch as its financial advisor, in response to the preliminary non-binding proposal to acquire the company in a "going private" transaction.

As indicated earlier, the proposal contemplates Shanda Interactive Entertainment Ltd., the controlling shareholder of the company, and an affiliate of Primavera Capital Ltd. and other persons which may join the Consortium, purchasing Shanda Games for $3.45 per class A or class B ordinary share, or $6.90 per American depositary share or ADS.