Chen Tianqiao wants to privatize the grand network

Washington (reporter Li Bin) last night, the Royal Network announced that its board of directors on October 15 received the company's founder, chairman, CEO and President Chen submitted to the acquisition of a grand network of all the public shares of the preliminary letter of recommendation.　　Chen proposed a 41.35 dollar cash price for each American Depository voucher ("ADS") for the purchase of Grand issued shares of Central Africa by Chen, Chen wife Luo Qianqian (now a Grand board member) and Chen Tianqiao Brother Danian (now a grand COO and board members) held all shares. It is reported that as of September 30, 2011, the proportion of buyers holding Shanda issued shares is about 68.4% (except for issued options). Shanda said that in order to achieve the deal, the buyer would set up a company subject to the deal to complete the acquisition and borrow to raise money.　　The letter of recommendation states that the buyer has initially negotiated with JPMorgan about the acquisition funds. Shanda said the acquisition does not involve changes in corporate control. Share to: