China Customer Relations Centers Goes Private At $6.50/Share - China Merchants Bank (OTC:CIHHF), China Merchants Bank (OTC:CIHKY)

Taiying Group Ltd and subsidiary Taiying International Inc inked an agreement to acquire a 71.1% stake in Chinese e-commerce and financial services business process outsourcing (BPO) service provider China Customer Relations Centers Inc (NASDAQ: CCRC) for $6.50 per share.
The purchase price signifies a 37.7% premium to the November 27, 2020 closing price of $4.72 representing the last trading day before November 30, 2020, the date when the company announced the "going-private" proposal.
This amount also represented an increase of 21% over the $5.37 per share initially offered by the buyer group in their initial "going-private" proposal on November 27, 2020.
Taiying Group Ltd would be beneficially owned by a group of rollover shareholders, including CCRC CEO, Chairman and director Zhili Wang, CFO Debao Wang, director and VP Guoan Xu, Qingmao Zhang, Long Lin, Jishan Sun, and certain other shareholders.
Taiying Group Ltd had entered into a debt commitment under which China Merchants Bank Co Ltd (OTC: CIHHF) (OTC: CIHKY) has agreed to provide a secured term facility for the merger.
Price action: CCRC stock was higher by 11.9% at $6.29 in the pre-market session on the last check Friday.