Skadden Reps CEO In $583M Deal To Take CSST Private

Law360, New York (April 22, 2011, 4:01 PM EDT) -- Surveillance and safety products company China Security & Surveillance Technology Inc. agreed Wednesday to be bought out by its CEO and Chairman Guoshen Tu for about $583.2 million.

The merger, which will privatize the company, values outstanding shares at $6.50. Shares closed at $4.83 on Wednesday, the same day the company announced the news, and shot up on opening Thursday to $5.78 per share.

The deal, which Tu first floated in early March, has already prompted one proposed shareholder class action seeking to block the merger...
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