As posted earlier (link), Nexon was poised to takeover JCE, the developer for basketball online game FreeStyle Online and its sequel. It was announced today, however, Nexon has purchased 16.34% of the company at 34,000 Korean Won per share, making the deal worth around USD 56 million. There is currently no news of a total buyout by Nexon. FreeStyle Online 2 is due to enter Open Beta next month in Korea.
A put option was also signed by both parties. As stated in Wikipedia, one party, the buyer of the put, has the right, but not an obligation, to sell the asset at the strike price by the future date. Meanwhile, the other party, the seller, has the obligation to buy the asset at the strike price if the buyer exercises the option. 2 different times were struck in the contract, be it either 6 months from now or within 2 weeks at an agreed date.
