Yongye Receives 'Going Private' Proposal at $6.60/Share
Yongye (NASDAQ: YONG) announced that its board has received a preliminary, non-binding proposal letter dated October 15 from Zishen Wu, the company's chairman and CEO, Full Alliance International Limited, MSPEA Agriculture Holding Limited, and Abax Global Capital, on behalf of funds managed and/or advised by it and its nominee entities and its and their affiliates, to acquire all of the outstanding shares of common stock of the company not currently owned by the Buyer Parties in a going private transaction for $6.60 per share of common stock in cash, subject to certain conditions.
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