S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

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

Photo of Jon C. Ogg
By Jon C. Ogg Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

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.

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. a673b.bigscoots-temp.com.

Continue Reading

Douglas A. McIntyre |

Shanda Seeks Repeat Changyou.com and Sohu.com Performance (SNDA, CYOU, SOHU)

IPO investors have long been mixed about partial spin-offs, and just outright nervous when it comes to the term ‘tracking…
Douglas A. McIntyre |

Shanda IPO Taking Shape (SNDA, GAME, CYOU, SOHU)

The spin-off IPO for Shanda Games Limited (NASDAQ: GAME) is coming next week and the company has set the expected…
Jon C. Ogg |

Online Gaming Woes in China (GA, NTES, PWRD, GAME, SNDA, CYOU)

We have seen some interesting research on the highly under-followed online gaming sector in China from the research team at…
Douglas A. McIntyre |

IPO Market Showing Concern (MG, TLCR, BSBR, EM, CLNY, RA, FIG, ARI, VITC, ECHO, CPC, GAME, SNDA, CYOU, SOHU, CPIX, OMER, BX)

It was just in August that practically every single initial public offering was trading above its IPO price.  The market…
What Penn National Gets With $2.8 Billion Deal for Pinnacle
Paul Ausick |

What Penn National Gets With $2.8 Billion Deal for Pinnacle

Casino operator Penn National has agreed to acquire rival Pinnacle Entertainment for $2.8 billion, including debt. The acquisition will lift…
Douglas A. McIntyre |

Day Trader Alert: Shanda Interactive Entertainment Ltd. (SNDA)

Shanda Interactive Entertainment Ltd. (NASDAQ: SNDA) is seeing an exponential volume surge at the open.  The Chinese interactive gaming software…
Why Pandora Shareholders Might Vote Against the Acquisition
Chris Lange |

Why Pandora Shareholders Might Vote Against the Acquisition

While the deal might look good at first glance, one analyst believes that Pandora shareholders will shoot down any hopes…
AT&T Stock Price Confronts 3 Pressure Points
Paul Ausick |

AT&T Stock Price Confronts 3 Pressure Points

AT&T plans to fire 3,400 technical and clerical workers and close more than 250 stores costing another 1,900 people their…
Jon C. Ogg |

Lost Trust After Lost Value In Chinese Internets, But… (RENN, NQ, QIHU, BIDU, SNDA, SINA, LDK)

Maybe it was a really bad IPO. Maybe you can blame the constant accounting fiction by public and state-owned companies. …

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618