Shanda Games To Be Acquired For About $1.9 Bln

(RTTNews) - China-based Shanda Games Limited (GAME) said it would be acquired by Capitalhold Limited and its subsidiary Capitalcorp Limited for about $1.9 billion. Capitalhold will acquire Shanda for cash consideration equal to $3.55 per share and $7.10 per American Depositary Share of the Company, each representing two Class A Ordinary Shares.

Shanda added that immediately following consummation of the transactions contemplated by the Agreement, Capitalcorp will be beneficially owned by a consortium led by Ningxia Yilida Capital Investment Limit.

The Merger is currently expected to close in the second half of 2015, subject to customary closing conditions.