Market Overview

Trunkbow to be Acquired for $1.46/Share in 'Going Private' Transaction


Trunkbow International Holdings Limited (NASDAQ: TBOW) today announced that it has entered into an Agreement and Plan of Merger (the "Merger Agreement") with Trunkbow Merger Group Limited ("Parent"), a business company with limited liability incorporated under the laws of the British Virgin Islands and wholly owned by Dr. Wanchun Hou, chairman of our board of directors, and Mr. Qiang Li, our chief executive officer and director, and Trunkbow International Merger Sub Limited ("Merger Sub"), a Nevada corporation and a wholly owned, direct subsidiary of Parent, pursuant to which Parent will acquire the Company for US$1.46 per share of the Company's common stock (a "Share") without interest (the "Merger Consideration"). The Merger Consideration represents a 24.8% premium over the closing price on November 1, 2012, the last trading day prior to the Company's announcement on November 2, 2012 that it had received a "going private" proposal, and a 48.6% premium over the 30-trading day volume weighted average price as of the same date.

Pursuant to the terms and subject to the conditions of the Merger Agreement, Merger Sub

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Posted-In: News Guidance Management M&A Global


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