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- Special Committee concluded Dazheng proposal was not superior after rigorous negotiations
- Dazheng was unable to provide sufficient assurances around equity financing and last-minute introduction of yet another new member after multiple changes in its consortium composition raised further questions that could not be resolved
- Special Committee strongly disagrees with flawed ISS and Glass Lewis recommendations: a transparent and well-run process has brought the right outcome for shareholders: the Ascendent deal
- Updated proxy materials detailing engagement with Dazheng in recent weeks will be released shortly
Posted In: HOLI