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 (7) | 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 2014, 10:49 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs