* Investor Full Alliance offers $6.69 per share
* Yongye valued at about $340 mln
* Shares rise 5 pct
Sept 23 China-based crop nutrient maker Yongye
International Inc said it has agreed to be taken
private by top shareholder Full Alliance International Ltd and
its affiliates, valuing the company at about $340 million.
The $6.69 per share offer represents an 11.9 percent premium
to the Friday close of $5.98 on the Nasdaq.
Yongye shares were up 4 percent in morning trade at $6.20.
Full Alliance, which owns about 15 percent of the company,
Yongye chief executive Zishen Wu, Morgan Stanley
affiliate MSPEA Agriculture Holding Ltd, and Abax Global Capital
Ltd had offered to take the company private in October for $6.60
Yongye said Abax is not a part of the new offer and has
opted out of the consortium. Abax, which primarily invests in
China, owns less than one percent of Yongye's shares.
The company, which has a market value of about $303 million,
makes liquid nutrients that are sprayed on plants and powders
for animal feed.
The deal, which is expected to close before the end of the
first quarter next year, has been approved by Yongye's board.