Chen Flyover Crazy repurchase shares

Evening News Grand Network announced yesterday, the company's board of Directors has received a preliminary non-binding proposal from CEO Chen to buy Chen, Chen wife Qianqian (Shanda Network non-executive director), and Chen Flyover's younger brother Danian (41.35 US dollars per share of U.S. depository shares)　　Shanda Network COO and director) has not yet held all the remaining shares of the Shanda network. As of September 30, 2011, the three people held a grand network of 68.4% of the circulation of shares. According to the proposal, the Chen family would have to buy the remaining 31.6% per cent of the U.S. depository stock at $41.35, a premium of 24% over the 33.48-dollar closing price of the grand Internet in Friday.　　In this calculation, the Chen family will pay 736 million dollars. According to the letter of October 15, 2011, the Purchaser (Chen family) will set up a company subject for the transaction to complete the acquisition and raise funds by borrowing. The letter notes that the buyer has initially negotiated with JPMorgan on the acquisition fund and obtained highlyconfident letter ("High confidence") from JPMorgan Chase.　　Buyer expects that, unless otherwise stipulated in the terms of the contract, the acquisition of funds will be in place at the time of the signing of the formal contract for acquisition. Shanda's web board has set up a special committee of independent directors to consider the proposal, including Topaz, Shunyu and Zhaokai.　　The Special Committee plans to engage consultants, including independent financial advisers and legal advisers, to assist in the relevant work, and the Special Committee has not yet received feedback on this recommendation letter.　　The announcement came after a big 18.76% opening yesterday. (reporter Qinchuan) to share: