Jinpan International Ltd. (JST) announced Monday morning that its Board of Directors has received a preliminary, non-binding proposal letter from Li Zhiyuan, the Company's Chairman of the Board, President, and CEO and FNOF E&M Investment Ltd., to acquire all of the outstanding common shares of the Company not currently owned by the Buyer Parties in a going private transaction for $8.80 per common share.
Jinpan International gapped up sharply Monday and is currently higher by 1.05 at $8.00 on the highest volume in 3 months. The stock has surged to a 5-month high.
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