Chapter 179

In 2005, a high-profile acquisition battle erupted in the Huaxia business community: Shanda's attempted takeover of Sina. On February 18 of that year, Shanda suddenly announced that it had spent 230 million USD through secondary market transactions to acquire a 19.5 percent stake in Sina. Furthermore, in accordance with the relevant laws and regulations of the United States, Shanda had already submitted its equity earnings documentation to the United States Securities and Exchange Commission. As soon as this news broke, the stock prices of both companies surged in response. Domestically, it immediately became a sensational headline in the Mainland China business world. One was the world's largest Chinese portal website, and the other was the country's largest gaming company. The collision between these two corporate giants attracted massive attention.