Chen will "family" grand Network

Commercial News (reporter Zhang Yiwang) Chen Tianqiao layout entertainment empire and new moves. Yesterday evening, the Royal network announced that the company's board of Directors has received the proposal submitted by CEO Chen, with each U.S. depository Voucher ("ADS") 41.35 U.S. dollars or a share of 20.675 U.S. dollars of cash prices to buy Chen, Chen wife Luo Qianqian (Shanda Network non-executive Director) and Chen Flyover brother Danian (　　Shanda Network COO and director) has not yet held all the remaining shares of the Shanda network. This means that, after Chen Tianqiao's proposal is adopted, the Grand network will be wholly owned by the Chen family. The purchase price was a premium of 23.5% for the 33.48 dollar closing in Friday.　　In the news, Shanda's shares surged yesterday to a press deadline when the shares rose to $39.65 trillion, or more than 18%. It is reported that as of September 30, 2011, the three people hold a grand network of 68.4% of the circulation of shares. The Grand Board has formally established a special committee composed of independent directors, which will consider the proposal. Under the proposal, Chen will set up a company subject for the transaction to complete the acquisition and borrow money to raise funds.　　The proposal also disclosed that Chen Tianqiao had a preliminary discussion with JPMorgan on the acquisition funds.　　Public data show that 2004, the Grand Web Landing Nasdaq, 2009 separate grand games listed separately, and then acquired the listed company Hua-century and 酷6网, to achieve 酷6网 shell listing. In response to the Chen of the Grand network privatization trend, "I U.S. stock" analyst Lee told reporters, Shanda network in recent years, the price is depressed, the valuation is not ideal.　　Shanda's share price fell by more than 16% in the past year after hitting its highest point of $62 trillion in 2009 without a bigger breakthrough. Lee also believes that Chen has been hoping to build an entertainment empire, to get rid of the reliance on a single online game business, but the company's performance of the merger over the years is not ideal, including Shanda literature, 酷6网 and so on are continuing to lose money, but need the continuous transfusion of game business.　　As a listed company, Shanda Network faces the performance pressure from the U.S. capital market. Analysts also predicted that the Chen move at the level of capital operations, the possibility of a return to a shares.　　He said in an interview earlier this year that the "return to domestic capital markets," the hope that after the privatization of the market, the return of a shares to seek higher valuations is more likely.　　As Chen once subordinate, the original Royal Network President Tang June also believes that Chen flyover to seek grand privatisation is on Wall Street did not correct valuation grand response, but also shows its confidence in the company and the future of the industry, "do not exclude domestic listing." and Millet Technology chairman Lei said, Shanda has several listed companies, there is no shortage of financing channels.　　If the parent company succeeds in privatizing and completely out of stock and public pressure, it can do something big. Another analyst pointed out that, according to the possible process, the Grand network privatization after the return of domestic capital market until the end of next year. Share to: