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
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