Shanda has announced that CEO, president and chairman Tianqiao Chen has offered to buyout the company. He is offering a 29 percent premium on the company share price.
He’s looking to buy up the 68.4 percent is already controlled by the board for $41.35 per American Depositary share, or $20.675 per ordinary share in cash. If the deal goes through, it could be worth around $457 million.
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