Harbin Electric Take Private Offer
On October 11, 2010 Harbin Electric Inc. (NASDAQ: HRBN) CEO Tianfu Yang announced plans to take the company private for $24 per share in cash.
Yang, together with Baring Private Equity Asia Group Limited, is seeking to acquire all outstanding shares of common stock of Harbin that are not currently owned by Yang and his affiliates.
Goldman Sachs is acting as financial advisor to Yang and his affiliates.
Harbin’s Board of Directors stated that it has formed a special committee of independent directors to consider the proposal.
Yang, together with Baring Private Equity Asia Group Limited, is seeking to acquire all outstanding shares of common stock of Harbin that are not currently owned by Yang and his affiliates.
Goldman Sachs is acting as financial advisor to Yang and his affiliates.
Harbin’s Board of Directors stated that it has formed a special committee of independent directors to consider the proposal.
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