Zhongpin delays take-private deal, drops go-shop provision
Zhongpin, the NASDAQ-listed Chinese pork producer that is subject to a PE-backed management buyout bid, has amended the deal to allow more time for completion and prevent directors from sourcing competing offers. The valuation of $502 million is unchanged.
The company's board accepted a bid from Xianfu Zhu, Zhongpin's chairman and CEO, in late November 2012. Two companies controlled by Zhu and his co-investors, Golden Bridge Holdings and its wholly-owned...
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