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China XD Plastics Company Limited Special Committee Engages Financial Advisor and Legal Counsel to Consider "Going Private" Proposal

China XD Plastics Company Limited (NASDAQ: CXDC) today announced that the special committee consisting of independent directors (the "Special Committee") of its board of directors (the "Board"), formed to consider, among other things, the previously announced

Benzinga · 05/15/2020 09:16

China XD Plastics Company Limited (NASDAQ: CXDC) today announced that the special committee consisting of independent directors (the "Special Committee") of its board of directors (the "Board"), formed to consider, among other things, the previously announced preliminary non-binding "going private" proposal received by the Board on May 8, 2020, has retained Duff & Phelps, LLC as its financial advisor and Hogan Lovells as its legal counsel to assist it in its review and evaluation of the proposed transaction.

The Board cautions the Company's shareholders and others considering trading the Company's securities that no decisions have been made by the Special Committee with respect to the Company's response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.