Chuanwei Zhang, chairman and CEO of China Ming Yang Ltd., is seeking to acquire all of the company's outstanding shares he doesn't already own. Ming Yang's board of directors has formed a special committee of independent directors to evaluate the proposal.
According to China Ming Yang, the special committee comprises of independent directors Dabing Zhou and Steve Markscheild, officers of the company and unaffiliated with the proposal. Zhou is the chairman of the special committee. The special committee expects to retain independent advisors, including an independent financial advisor and legal counsel, to assist it in the process of reviewing and evaluating the proposal.
China Ming Yang is a wind turbine manufacturer in China, that focuses on designing, manufacturing, selling and servicing megawatt-class wind turbines.