Perfect World founder submits an offer take the company private

Perfect World, an online powerhouse and one of China’s largest gaming companies, could go private in 2015.

The board of directors at Perfect World received a proposal on New Year’s Eve from founder and chairman of the board Michael Yufeng Chi to take the nearly $1 billion company private. His nonbinding offer would have him acquiring all shares not currently owned for $20 per American Depositary Share, or $4 per ordinary share in cash. The proposal represents a premium of 25.7 percent over the Dec. 30 closing price. Chi calls his this an “attractive opportunity” and his offer states that he believes that the transaction “will provide superior value to the company’s shareholders.”