Global-Tech Advanced Innovations Announces Merger Agreement for "Going Private" Transaction @$8.85/Share

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Global-Tech Advanced Innovations Inc.
GAI
today announced that it has entered into an agreement and plan of merger (the "Merger Agreement") with Timely Star Limited, a company with limited liability incorporated under the laws of the British Virgin Islands ("Parent"), and Timely Merit Limited, a company with limited liability incorporated under the laws of the British Virgin Islands and a direct wholly owned subsidiary of Parent ("Merger Sub"). Pursuant to the terms of the Merger Agreement, each of the Company's ordinary shares (a "Share") issued and outstanding immediately prior to the effective time of the merger will be cancelled in exchange for the right to receive US$8.85 in cash per Share, without interest, except for
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Posted In: NewsM&APress Releases
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