Chinese transformer manufacturer receives non-binding takeover bid
USA, New Jersey: Jinpan International Limited, a Chinese manufacturer of cast resin transformers, has announced reception of a preliminary bid from its CEO Li Zhiyuan, and Forebright Smart Connection Technology Limited for the acquisition of the outstanding common shares of the company.
USA, New Jersey: Jinpan International Limited, a Chinese manufacturer of cast resin transformers, has announced reception of a preliminary bid from its CEO Li Zhiyuan, and Forebright Smart Connection Technology Limited for the acquisition of the outstanding common shares of the company.
This is a non-binding proposal and no decision has been made as yet with respect to the company’s response, reports PR Newswire.
According to the statement, the company expects the Board of Directors to form an independent committee to consider the proposal.
However, there is no assurance that any definitive offer will be made.
Source: Jinpan International, PR Newswire
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