Le Gaga Holdings, (GAGA), a greenhouse vegetable producer in China, Wednesday said it received a a non-binding proposal from Na Lai Chiu, the chairman, Shing Yung Ma, CEO and SC China Holding Limited, a company indirectly wholly owned by Neil Nanpeng Shen, a director of the company, on behalf of funds managed by the Chairman, CEO and their affiliates(Consortium) to acquire all of the outstanding shares of the Company not currently owned by the Consortium in a 'Going Private' transaction. The transaction is valued at $4.01 in cash per ADS of the Company or $0.0802 in cash per ordinary share of the Company.
According to the proposal letter, the Consortium intends to form an acquisition company to implement the transaction, and has held discussions with certain financial institutions that have expressed interest in financing the Transaction. The Board has formed a special committee consisting of three independent directors to consider this proposal. The company expects that the Special Committee will retain a financial advisor and legal counsel to assist it in its work. The Company cautions its shareholders and others considering trading in its securities that it has just received the proposal and has not made any decisions with respect to the Company's response to the same.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.