Seeking Alpha

Shanda closes lower in spite of Alibaba report

  • After opening higher in the wake of a report stating Alibaba is looking to acquire Shanda Games' (GAME -1.8%) main businesses (along with those of parent Shanda Interactive) Shanda Games joined other Chinese gaming firms in selling off.
  • The selloff suggests investors have their doubts about the report, which comes a month after Shanda Game received a $6.90/share going-private proposal.
Comments (1)
  • FX-Guy
    , contributor
    Comments (3) | Send Message
     
    Think the market's hesitation is the belief the 6.90 buyout price is at risk if Alibaba does not buy the merged entity.
    25 Feb, 10:49 AM Reply Like
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