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Maso Capital Welcomes Cayman Court Ruling

Maso Capital has welcomed the landmark ruling by the Cayman Islands Court of Appeal in the first case of its kind involving the take-private of a Chinese company. The Court agreed with the determination by the Grand Court of the Cayman Islands that the merger price offered to shareholders in the take-private of Shanda Games Ltd was too low. The case had been brought by Maso Capital, a Hong Kong-based multi-asset management firm focusing on Event Driven situations, which had been the only shareholder of Shanda Games Ltd to dissent to the price offered in the take-private. The Court of Appeal...