Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Zhongpin Establishes Committee To Evaluate Non-binding Going Private Proposal

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.

Click here to receive FREE breaking news email alerts for Zhongpin, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Computer and printer maker Hewlett-Packard Co. (HPQ) said Wednesday after the markets closed that its third quarter profit fell 29% from last year, hurt mainly by higher restructuring charges even as revenue grew 1%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue beat analysts' forecast. Stocks fluctuated over the course of the trading day on Wednesday before ending the session mostly higher. The Dow and the S&P 500 both finished the day in positive territory, although the tech-heavy Nasdaq posted a modest loss. President Barack Obama spoke harshly of the terrorist group allegedly responsible for the execution of American freelance journalist James Foley in a statement on Wednesday. Obama described the group known as the Islamic State of Iraq and the Levant, or ISIL, as a cancer that needs to be extracted.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.