AsiaInfo Investor Challenges $890M Take-Private Deal

Law360, Wilmington (June 13, 2013, 5:49 PM EDT) -- An AsiaInfo-Linkage Inc. investor launched a putative class action Tuesday aimed at blocking an $890 million bid to take the telecommunication software company private, saying the deal undervalues the company and will benefit private equity and insider backers at the expense of public shareholders.

Shareholder Dawan Liu claims the buyout group — led by Chinese private equity firm Citic Capital Partners — is attempting to acquire the company at a significant discount and that AsiaInfo's board breached its fiduciary duties by accepting the offer, according to...
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