The China Post
Date: August 31, 2016
By: The China Post news staff

TAIPEI, Taiwan — Taipei-based game developer XPEC Entertainment Inc. (樂陞科技) is considering taking legal action against Japan-controlled Bai Chi Gan Tou Digital Entertainment Co (百尺竿頭數位娛樂), after the latter made a last-minute announcement to withdraw from an agreement to purchase a controlling stake.

According to a statement posted online by Bai Chi Gan Tou, the company would not be able to deliver required payments to XPEC by Wednesday, the deadline for purchase under an agreement made between the two developers.

The Japanese company has authorized CTBC Bank to return shares to tenderers, the statement read.

Bai Chi Gan Tou said XPEC Entertainment had allowed its stock price to fluctuate dramatically, and rumors over the company’s future saw a dive in stock prices.     [FULL STORY]