San Diego, CA -- (SBWIRE) -- 10/17/2012 -- An investigation on behalf of investors in Yongye International Inc (NASDAQ:YONG) shares was announced concerning whether the takeover offer to acquire Yongye International Inc and the takeover process are unfair to investors in NASDAQ:YONG shares.
Investors who purchased shares of the Yongye International Inc (NASDAQ:YONG) prior to October 15, 2012, and currently hold any of those NASDAQ:YONG shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Yongye International Inc breached their fiduciary duties owed to NASDAQ:YONG investors in connection with the proposed acquisition.
On October 15, 2012, Yongye International, Inc. (NASDAQ: YONG) announced that its Board of Directors has received a preliminary, non-binding proposal letter dated October 15, 2012 from the Company's Chairman and Chief Executive Officer, Full Alliance International Limited, MSPEA Agriculture Holding Limited and Abax Global Capital (Hong Kong) Limited, on behalf of funds managed and/or advised by it and its nominee entities and its and their affiliates to acquire all of the outstanding shares of common stock of Yongye International, Inc. (NASDAQ: YONG) not currently owned by the Buyer Parties in a going private transaction for $6.60 per share of common stock in cash, subject to certain conditions.
Following the announcement shares of Yongye International Inc (NASDAQ:YONG) jumped from $4.75 per share on Friday, October 12, 2012 to $5.79 per share on Monday.
However, NASDAQ:YONG shares traded during 2011 as high as $8.25 and in 2010 as high as $8.88 per share. Furthermore, Yongye International Inc financial performance improved over the past years. In fact, Yongye International Inc (NASDAQ:YONG) reported that its annual Revenue rose from $48.09 million in 2008 to $390.38 million in 2011 and its Net Income increased from $13.31 million in 2008 to $84.86 million in 2011.
Therefore, the investigation a law firm concerns whether the proposed transaction is unfair to NASDAQ:YONG stockholders.
Specifically, the investigation focuses on whether the Yongye Intl Board of Directors undertakes an adequate sales process, adequately shops the company before entering into the transaction, maximizes shareholder value by negotiating the best price, and acts in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Yongye International Inc (NASDAQ:YONG) and purchased their Yongye International Inc shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego