Game developer Giant Interactive gets $2.82 bln go-private bid

Reuters

Nov 25 (Reuters) - Chinese online game developer GiantInteractive Group Inc said it received a non-bindingproposal from its chairman Yuzhu Shi and an affiliate of BaringPrivate Equity Asia to take the company private for $11.75 perAmerican Depositary Share.

The offer represents a premium of 16 percent to thecompany's ADS's closing price on the New York Stock Exchange onFriday.

The consortium expects to finance the deal, which values thecompany at about $2.82 billion, with a combination of debt andequity capital.

Giant Interactive said the consortium owned about 47.2percent of the company's shares as of Nov. 25.

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