Jinpan International receives takeover bid from CEO, Forebright Capital
Li Zhiyuan, the Chairman, President and CEO of Jinpan International Ltd. and Forebright Capital Management Ltd. have made a preliminary, non-binding proposal to buy the company for $4.50 a share. Jinpan said its board will form a special committee to consider the offer. It will also retain financial advisor and legal counsel. Zhiyuan and Forebright made the offer in a Sept. 15 letter. Carlstadt, New Jersey-based Jinpan makes, designs and distributes cast resin transformers.
16 September 2015•6 mins read
