Mindray Confirms Receipt Of Revised Non-binding Going Private Proposal

(RTTNews) - Chinese medical device maker Mindray Medical International Ltd. (MR) announced that the board of directors has received a revised non-binding proposal from the Buyer Group consisting its Executive Chairman, President and Co-CEO Li Xiting, Chairman Xu Hang, and Co-Chief Executive Officer and Chief Strategic Officer Cheng Minghe.

The Buyer Group has offered to acquire all of the outstanding shares of the company not already owned by the then for $27 per American Depositary Share or ADS or $27 per ordinary share in cash, subject to certain conditions.

The special committee of the Board, formed to consider the original proposal by the Buyer Group, is evaluating this revised proposal with the assistance of its financial and legal advisors.

The Special Committee cautions the Company's shareholders and others considering trading in the Company's securities that no decision has been made by the Special Committee or the Board with respect to the revised proposal.

There can be no assurance that any definitive offer will be made, any agreement will be executed or that this or any other transaction will be approved or consummated.

In early May, the buyer group made a preliminary offer of $30.0 per ADS or $30.0 per ordinary share in cash, subject to certain conditions.