Fushi Copperweld's CEO, PE firm Abax make privatization offer
Electric cable and wire manufacturer Fushi Copperweld’s CEO Li Fu and Hong Kong-based PE firm Abax Global Capital Limited have jointly placed a bid to take NASDAQ-listed Fushi private, with Fu offering to purchase all the outstanding shares in the company that he does not currently own, according to Fushi.
Fu has specifically offered to pay $11.50 a share in cash, fully valuing Fushi at $434.5 million. That price was a 26% premium to its latest closing price. Fu and his affiliates currently hold a 29.2%...
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