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Ossen Innovation Signs Deal To Be Taken Private
BEIJING (dpa-AFX) - Ossen Innovation Co., Ltd. (OSN), a China-based manufacturer of an array of plain surface, rare earth and zinc coated pre-stressed steel materials, said Thursday it has entered into a plan of merger with New Ossen Group Limited.
New Ossen Group is an exempted company with limited liability incorporated under the Law of the British Virgin Islands, and New Ossen Innovation Limited is a wholly-owned Subsidiary of New Ossen Group.
Under the terms of the deal, New Ossen Group will acquire Ossen Innovation for US$1.70 in cash per ordinary share of the company, or US$5.10 in cash per American Depositary Share of the company. The merger is currently expected to close during the first half of 2021. ....

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