Yalian Steel said that its chairman Xin Duo Yu has offered to buy all of the company’s outstanding common shares that he does not already own, this according to a company news release.
Yu currently holds 14.74% of the issued and outstanding common shares in the capital of Yalian and is offering 40 cents a share for the remaining stock.
Yalian Steel is focused on the production of Longitudinally Submerged Arc Welded steel pipe to service Asia's energy transportation infrastructure market.
Source:
http://www.steelguru.com/chinese_news/Yalian_Steel_receives_takeover_offer/296956.html
