YONGYE INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Yongye International, Inc. (YONG) Over the Proposed Sale of the Company to Full Alliance International Limited
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Yongye International, Inc. (“Yongye” or the “Company”) (NasdaqGS: YONG) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Full Alliance International, Inc. in a cash deal valued at approximately $339 million. Under the terms of the proposed transaction, Yongye’s stockholders will receive $6.69 for each share of Yongye common stock they own. However, the Company’s total cash per share is already $5.02 while its book value is $10.03 per share. Thus, the proposed buyout price is a steep discount from the Company’s combined cash and book value.
The investigation focuses on whether Yongye’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Yongye’s shareholders.
If you own common stock in Yongye and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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