Skadden Guides $98M Go-Private Deal For Chinese IT Firm

Law360, New York (September 18, 2013, 11:48 AM EDT) -- Corporate-focused IT firm Camelot Information Systems Inc. is poised to become the latest Chinese company to go private in a sale to insiders, saying Wednesday it had inked a $98.2 million sale agreement with a group that includes its chairman and CEO.

Under the terms of the deal, Camelot stockholders would receive $2.05 per American depositary share, representing a 36.7 percent premium over the company's close on March 11, the day before it revealed an initial buyout proposal. The buyer group — including top Camelot executive...
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