The offer is not to buy itself out, in terms of the letter. Company was sold, BOD gives reason for doing so at such a low price as being the "advanced aging and deteriorating condition" of plants. New owner is providing the tender offer.
Anyone who knows the background of this company, including upgrades to modernize, realizes this is a joke.
Malone Bailey didn't ditch CRJI like they did almost all other China clients.
Just goes to show that it doesn't matter if the company is legit, management's intentions rarely are.
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