Former CEO wants to buy Actions SemiconductorStaff writer ▼ | May 23, 2016
Actions Semiconductor board has received a non-binding proposal letter from Hsuan-Wen Chen, former CEO of the company, and certain of his affiliates, that proposes a "going-private" transaction.
Semiconductors Actions Semiconductor receives $2 per ADS going private proposal
According to the proposal letter, the consortium members beneficially owned, in the aggregate, approximately 34.61% of the company's outstanding share capital.
The board has formed a special committee of independent directors to consider the proposal. ■