- Add Perfect World's (NASDAQ:PWRD) name to the list of U.S.-traded Chinese companies to receive "non-binding" buyout offers involving a founder: Chairman Michael Chi has proposed acquiring the game developer for $20/share in cash (a 27% premium to Wednesday's close).
- As is the norm in such situations, Perfect World's board has formed a special committee to evaluate Chi's proposal. The success rate of similar going-private offers is very mixed (I, II).
- Perfect World has also announced mobile game publishing SVP Yunfan Zhang has been promoted to the newly-created role of COO.