Tech Firm Draws $332M Bid As China's MBOs Keep Rolling

Law360, New York (June 6, 2013, 7:34 PM EDT) -- China-based IT provider iSoftStone Holdings Ltd. said Thursday it had received a $332 million takeover proposal from its chief executive and a private equity partner, becoming the latest battered Chinese listing to field a management buyout bid.

CEO and Chairman Tianwen Liu and China Asset Management Co. Ltd., one of China's biggest domestic asset managers, are offering $5.85 per share for the company, which is based in Beijing but listed on the New York Stock Exchange. The proposal is 21 percent higher than Wednesday's closing price...
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