Delong CEO and wife make $7/share cash offer to take steel manufacturer private

SINGAPORE (Sept 27): Delong Holdings’ CEO and executive chairman Ding Liguo and his wife have made a $7 per share cash offer to take the China-based steel manufacturer private.

The offer price represents a 76.9% premium over Delong's 12-month volume-weighted average price, and a 1.9% premium over its last transacted price of $6.87 at the close on Wednesday.

The voluntary condition offer for all the shares the couple do not own was made by PrimePartners Corporate Finance on behalf of the couple's offer vehicle Best Grace Holdings.

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