Yongye Biotechnology International, Inc. (YONG)

[mlkrborn]

Yongye Intl. Special Committee selects independent financial advisor in connection with 'going private' proposal (YONG) 5.53 +0.02 : Co announced that the Special Committee of its Board of Directors, formed to consider certain potential transactions involving the Company, including the preliminary, non-binding proposal from a buyer group including Mr. Zishen Wu, the Company's Chairman and Chief Executive Officer, Full Alliance International Limited, MSPEA Agriculture Holding Limited, and Abax Global Capital (Hong Kong), to acquire all of the outstanding shares of common stock of the Company not currently owned by the Buyer Group in a going private transaction, has retained Houlihan Lokey as the Special Committee's independent financial advisor. As previously announced, the Special Committee has retained Cleary Gottlieb Steen & Hamilton LLP to serve as its legal counsel. The Special Committee is evaluating and considering the Proposal as well as the Company's other alternatives. No decisions have been made by the Special Committee with respect to the Company's response to the Proposal.