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August 18, 2014
16:10 EDTOVTIOmniVision says reviewing and evaluating HCM’s proposal
OmniVision Technologies said in a regulatory filing that it issued a press release on August 14 announcing that the Board of Directors of OmniVision received a preliminary non-binding proposal letter dated August 12 from Hua Capital Management, a Beijing-based investment management company, pursuant to which a group of investors led by HCM proposes to acquire all of the outstanding shares of common stock of the company for $29.00 in cash per share. The investment group led by HCM includes Shanghai Pudong Science and Technology Investment Co, a wholly state-owned limited liability company directly under Pudong New Area government of Shanghai. OmniVision’s Board is reviewing and evaluating HCM’s proposal. OmniVision Technologies said, "No decision has been made with respect to the proposed transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law. OmniVision has retained J.P. Morgan Securities LLC as its financial advisor, and Wilson Sonsini Goodrich & Rosati, P.C. as its legal counsel."
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