Advanced Search

LJ Intl. Appoints Committee to Weigh 'Going Private' Offer

Aug 22, 2012 1:12 PM   By Jeff Miller
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... LJ International Inc.  formed a special committee of disinterested directors to consider a non-binding proposal to take the company private. The board  appointed independent directors, Xiang Xiong Deng,  Jin Wang and  Jieyun Yu, to consider a bid from Yu Chuan Yih, the company's president along with Urban Prosperity Holdings Limited, to acquire all of the outstanding ordinary shares not currently owned by Yih for $2 per share.

The committee intends to retain an independent financial advisor and legal counsel to assist it in its work, according to the board. No decisions have been made with respect to the company's response to the proposed transaction.

Shares in LJ International were trading at $1.82, down 1.6 percent in New York as of 1 p.m.

Tags: committee, Jeff Miller, lj
Similar Articles
Similar Videos
Rapaport Illustrates the Importance of 'The Last 18 Inches'
Jul 01, 2014
Martin Rapaport's annual "State of the Diamond Industry" presentation provides...
diamonds Polished Prices Hold... prices Polished Prices Under... christie's auction Ritani Unifies Online,...
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2017 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.