- Giant Interactive (GA +11.5%) founder/chairman Yuzhu Shi and P-E firm Baring Private Equity Asia have offered, through a preliminary non-binding proposal letter, to take the Chinese online game developer private for $11.75/share, or $2.8B. (PR)
- The price represents a 16% premium to Giant's Friday close, and a 4% premium to where shares currently trade. Shi and Baring collectively own 47.2% of Giant.
- Shi is far from the first founder of a Chinese tech company to make a going-private offer. His proposal values Giant at a little over 9x 2014E EPS after backing out $610M in cash/investments.
From other sites
at CNBC.com (Nov 26, 2013)
at CNBC.com (Nov 25, 2013)
at CNBC.com (Jun 7, 2013)
at MarketWatch.com (Jan 24, 2013)
at MarketWatch.com (Jan 9, 2013)
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