Zhongpin Establishes Committee To Evaluate Non-binding Going Private Proposal

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4/13/2012 6:05 AM ET

Zhongpin Inc. (HOGS: Quote) said it has established a special committee of its board of directors to consider the preliminary, non-binding proposal received from Zhongpin's chairman and chief executive, Xianfu Zhu, on March 27, 2012 to buy all of the outstanding shares of the company not currently owned by him in a going private transaction.

The Special Committee is composed of the following independent directors of the company: Raymond Leal, Xiaosong Hu, and Yaoguo Pan. The Special Committee has retained Akin Gump Strauss Hauer & Feld LLP as its legal advisor and intends to retain independent financial advisors to assist it in its evaluation of the Zhu Proposal and any additional proposal that may be made by Zhu and his affiliates, if any.

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by RTT Staff Writer

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