Chinese online-game company Shanda Games Ltd. said Friday that it has agreed to be taken private in a $1.9 billion deal after a yearlong effort.

A consortium of buyers will pay US$3.55 an ordinary share and US$7.10 per American depositary share, representing a 46.5% premium over Shanda Games's 30-day average before its January announcement that it had received a going-private offer.

Shanda Games' American depositary shares closed at US$6.49 on Thursday, up 14.3% this year.

The consortium of buyers already owns about 76% of the company and controls 91% of its voting power. The deal is expected to close in the second half of the year.

In January 2014, a group which included then-controlling shareholder Shanda Interactive Entertainment Ltd. offered to buy the company, valuing it at just under $2 billion.

In September, a group of private-equity firms, including Carlyle Group LP, withdrew from the consortium, which was backing the controlling shareholders' efforts to buy out the company.

Write to Chelsey Dulaney at chelsey.dulaney@wsj.com

Access Investor Kit for Shanda Games Ltd.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US81941U1051

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

GameSquare (NASDAQ:GAME)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more GameSquare Charts.
GameSquare (NASDAQ:GAME)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more GameSquare Charts.