logo
  Join        Login             Stock Quote

LJ International (JADE) Agrees For 'Going Private' Transaction

 March 22, 2013 01:14 PM
 


(By Balaseshan) LJ International Inc. (NASDAQ: JADE), a vertically integrated jewelry company, said it has agreed with Flora Bloom Holdings and Flora Fragrance Holdings Ltd. for "going private" transaction.

Flora Bloom will acquire LJ International for $2.00 per ordinary share, represents a 24.2% premium over the closing price of JADE on August 10, 2012, the last trading day prior to the public announcement that it had received a "going private" proposal.

Flora Fragrance Holdings will be merged with and into the company with the company surviving the merger as a wholly-owned subsidiary of Flora Bloom. Each ordinary share of JADE issued and outstanding immediately prior to the effective time of the transaction will be cancelled in exchange for the right to receive $2.00 in cash without interest.

[Related -Merger Arbitrage Mondays – June 3, 2013]

If the merger is completed, each stock option awarded under the company's share incentive plans shall be cancelled and converted into the right to receive cash in an amount equal to the excess of $2.00 over the exercise price of such option.

The company's board , acting upon the unanimous recommendation of the Special Committee, approved the Merger Agreement and the Transaction and resolved to recommend that its shareholders vote to approve.

If completed, the transaction will result in the company becoming a privately-held company and its shares would no longer be listed on the NASDAQ Global Market.

JADE is trading down 1.04% at $1.91 on Friday. The stock has been trading between $1.24 and $2.44 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageChipotle Mexican Grill, Inc. (CMG) Q2 Earnings Preview: Will Higher Traffic Offset Higher Costs the Key

Chipotle Mexican Grill, Inc. (NYSE:CMG) will host a conference call to discuss second quarter 2014 read on...

article imageNetflix, Inc. (NFLX) Q2 Earnings Preview: The Ruby Month for a Reason

Netflix, Inc. (NASDAQ:NFLX) will post its second-quarter 2014 financial results and business outlook on its read on...

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

article imageInternational Business Machines Corp. (IBM) Q2 Earnings Preview: Small Beat and Pop

International Business Machines Corp. (NYSE:IBM) will host a conference call Wednesday, Jul. 16, 2014 at read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Chinese Small Caps Gone Wild



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.