Orrick, Skadden on Latest Take-Private for U.S.-Listed Chinese Company
Perfect World will be the third Chinese gaming company, including Giant Interactive and Shanda Games, to delist in the last 18 months in the face of low valuations from investors.
April 26, 2015 at 10:45 PM
2 minute read
Orrick, Herrington & Sutcliffe and Skadden, Arps, Slate, Meagher & Flom are leading a $1 billion deal that will see Chinese gaming company Perfect World Co. Ltd. taken private by founder and chairman Michael Chi.
Chi offered to buy all the outstanding shares of Nasdaq-listed Perfect World at $4 apiece, a 28 percent premium to the company's closing price just prior to receiving the take-over proposal in January. The deal values Perfect World at $1 billion.
Founded by Chi in 2004, Beijing-based Perfect World developed the popular online role-playing games “Perfect World,” “Ether Saga Odyssey” and “Fantasy Zhu Xian.” It is the third U.S.-listed Chinese gaming company taken private in the past 18 months.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3The 'Biden Effect' on Senior Attorneys: Should I Stay or Should I Go?
- 4'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 5'You Are Not Alone': 120 Sex Assault Victims Plan to Sue Sean 'Diddy' Combs
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250