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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.