Zhongpin Inc./Xianfu Zhu
On March 27, 2012, Zhongpin Inc. (Nasdaq: HOGS) received a preliminary, non-binding proposal from its Chairman and Chief Executive Officer, Mr. Xianfu Zhu, which stated that Zhu intends to acquire all of the outstanding shares of the Company's common stock not currently owned by him in a going private transaction at a proposed price of $13.50 per share in cash.
Zhu currently beneficially owns approximately 17.5% of the Company's common stock.
The Company's Board of Directors intends to form a special committee of independent directors to consider this proposal and any additional proposal that may be made by Zhu and his affiliates, if any. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that a transaction with Zhu or any other transaction will be approved or consummated
Zhu currently beneficially owns approximately 17.5% of the Company's common stock.
The Company's Board of Directors intends to form a special committee of independent directors to consider this proposal and any additional proposal that may be made by Zhu and his affiliates, if any. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that a transaction with Zhu or any other transaction will be approved or consummated
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Zhongpin (HOGS) Forms Special Committee to Consider 'Go Private' Proposal
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Unusual 11 Mid-Day Movers 03/27: (OPXT) (HOGS) (XOMA) Higher; (KGJI) (NBIX) (DSS) Lower
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Morning Movers 03/27: (OPXT) (HOGS) (XOMA) (WNC) Higher; (KGJI) (MMR) (AONE) Lower
