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Fuling Global (FORK) approached by the Buyer Group

  • June 22, 2020


StockFuling Global Inc.SymbolFORK
Date Announced06/22/2020Source Press Release
TypeUnsolicited BidAcquiring Company/Person Fuling ParentCo Inc.
Date of Confirmation: 09/01/2020Price at Confirmation: $2.29
Potential Profit: 5.53%Annualized Profit: 28.43%

Fuling Global Inc. (FORK), a manufacturer and distributor of mainly environmentally-friendly plastic and paper foodservice disposable products, today announced that its board of directors has received a preliminary non-binding proposal letter, dated June 20, 2020, from Ms. Guilan Jiang, founder and chairwoman of the Board of the Company on behalf of herself and her extended family members who are shareholders of the Company, and Mr. Qijun Huang, an individual financial investor (together with Ms. Jiang and the Founder Family, the “Buyer Group”), to acquire all of the outstanding ordinary shares of the Company that are not already held by the Buyer Group for a purchase price of $2.18 per share, in cash.

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