Buyout Offer Spurs Surge for Perfect World Co. (PWRD)

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Perfect World Co. Ltd. (NASDAQ:PWRD), SouFun Holdings Ltd. (NYSE:SFUN) and Linn Energy LLC (NASDAQ:LINE) are starting the day strong this post-holiday Friday. International Tower Hill Mines (NYSE:THM), Synaptics Inc. (NASDAQ:SYNA) and CHC Group Ltd. (NYSE:HELI) took tumbles early in the day.

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Perfect World Surges on Buyout Offer

Perfect Word Co. Ltd. surged +21.83% after receiving a buyout proposal from Chairman Michael Yufeng Chi. The offer puts the game developer’s valuation at about $1 billion. Thomas Steyer’s Farallon Capital picked up a stake in the company during the first quarter of 2014 and as of its most recent regulatory filing holds 478,000 PWRD shares.


SouFun Holdings gained +10.15% on the heels of Beijing’s announcement of a higher housing credit limit – something that will have a positive impact on the China-based online real estate portal. Chase Coleman’s Tiger Global increased its SFUN stake to one of 14 million shares during the third quarter of last year.

Linn Energy climbed +8.69% early in the day, rebounding back after tumbling prior to the opening bell. The company cut its expected capital expenditures in half and slashed its dividend to $1.25 per share from $2.90. A long-time Leon Cooperman holding, Linn Energy declined more than -65% in 2014.

Synaptics Tumbles on Downgrade

International Tower Hill Mines dipped -14.44% early in the day this Friday. Billionaire investor John Paulson has had a position in the company since the third quarter of 2010 and as of his most recent regulatory filing holds 8.91 million THM shares.

Synaptics Inc. tumbled -8.34% after being downgraded from outperform to sector perform by Pacific Crest. A developer of human interface solutions, Synaptics is a new third quarter acquisition for George Soros.

CHC Group fell -7.76%, putting its one-month loss at nearly -35%. The commercial helicopter operator has been in the Farallon Capital portfolio since the first quarter of last year.

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