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China Nuokang Bio-Pharmaceutical Inc. (NKBP) Forms Independent Committee and Appoints Independent Legal Counsel to Evaluate "Going Private" Proposal
5/21/2012 10:06:44 AM
BEIJING, May 21, 2012 (GLOBE NEWSWIRE) -- China Nuokang Bio-Pharmaceutical Inc. (Nasdaq:NKBP) ("Nuokang" or the "Company"), a leading China-based biopharmaceutical company focused on the research, development, manufacture, marketing and sales of hospital-based medical products, today announced that it has formed an independent committee of its board of directors (the "Independent Committee") to review and evaluate the preliminary, non-binding proposal received from Mr. Baizhong Xue, chairman and chief executive officer of Nuokang, on May 10, 2012 to acquire all of the outstanding shares of the Company not currently owned, legally or beneficially, by Mr. Xue or companies controlled by Mr. Xue.
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