logo
Share SHARE
FONT-SIZE Plus   Neg

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
US Steel Corp. (X) Tuesday said it will "adjust operations" and temporarily idle a part of its Minntac plant in Mt. Iron, Minnesota, effective June 1. According to reports, the move would see about 700 employees laid off. The company said the decision was due to its current inventory levels and ongoing... Hewlett-Packard Co. (HPQ) has filed a lawsuit against Michael Lynch, the co-founder of Autonomy Corp., and its former Financial Chief Sushovan Hussain for a whopping $5.1 billion alleging that the executives misrepresented the financial situation of Autonomy. An HP's spokeswoman confirmed that the... Nine acres of green grass with 400 trees and a half-mile-long walk way. We are not talking about any park, but the expansive rooftop of Facebook's new office. The 430,000 square feet office is a single room and it might be the largest open floor plan in the world.
comments powered by Disqus
Follow RTT