Pactera Technology International Ltd. (PACT) announced its board has received a non-binding proposal letter from an affiliate of funds managed or advised by Blackstone, the company's non-executive Chairman, Chris Chen, its Chief Executive Officer, Tiak Koon Loh, and its Executive Committee members, David Chen, Sidney Huang and Jun Su to acquire all of the outstanding shares of Pactera not currently owned by the buyer consortium in a going private transaction for US$7.50 per American Depositary Share in cash, subject to certain conditions.
Pactera expects its board will form a special committee of independent directors to consider the proposal.
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