Fushi Copperweld Gets Buyout Offer from CEO, Abax Global

Fushi Copperweld has received a buyout offer from its chief executive, along with private equity shop Abax Global Capital, Reuters reported. The offer values the Chinese wiremaker at $433.8 million. Abax Global, along with chief executive Li Fu, offered $11.50 per share for the company – a 26% premium over the company’s closing price Tuesday. CEO Li Fu already owns 29.9% of the company, Reuters said.

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