Perfect World Gets Non-Binding "Going Private" Proposal From Its Chairman

(RTTNews) - Perfect World Co., Ltd. (PWRD), an online game developer and operator in China, Friday said it received a preliminary non-binding proposal letter from its founder and chairman of the Board, Michael Yufeng Chi, dated December 31, 2014, to buy all of the outstanding shares of the company, not currently owned by him, in a going private transaction for $20.00 per ADS or $4.00 per ordinary share in cash.

The company said it has formed a special committee of independent directors, comprising three independent directors, to consider this proposal. The company added that there can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.