logo
Share SHARE
FONT-SIZE Plus   Neg

Zhongpin Establishes Committee To Evaluate Non-binding Going Private Proposal

Zhongpin Inc. (HOGS) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT