WASHINGTON (dpa-AFX) - Giant Interactive Group Inc. (GA) announced the completion of its merger with Giant Merger Limited, a wholly-owned subsidiary of Giant Investment Limited, pursuant to the previously announced Agreement and Plan of Merger, dated as of March 17, 2014 and amended on May 12, 2014, among the Company, Parent and Merger Sub.
As a result of the Merger, Parent has acquired the company in a cash transaction valued at about US$3.0 billion.
Under the terms of the Merger Agreement, which was approved by the company's shareholders at an extraordinary general meeting held on July 14, 2014, all of the company's ordinary shares issued and outstanding immediately prior to the effective time of the Merger have been cancelled in exchange for the right to receive US$12.00 per ordinary share or US$12.00 per ADS in cash.
The company also announced that it requested that trading of its ADSs on the New York Stock Exchange be suspended as of the close of trading on July 18, 2014. The company requested that the NYSE file a Form 25 with the Securities and Exchange Commission notifying the SEC of the delisting of its ADSs on the NYSE and the deregistration of the Company's registered securities.
Copyright RTT News/dpa-AFX
© 2014 AFX News
