Several chief executives at medical equipment manufacturer Mindray Medical International have sent a proposal to the firm's board of directors offering to take the company private.
In a letter dated June 4, the executives offered to purchase at $30 per share all outstanding shares of the company that they do not already own. The letter was signed by Li Xiting, Mindray's executive chairman of the board, president, and co-chief executive officer; Xu Hang, chairman of the board; and Cheng Minghe, co-chief executive officer and chief strategic officer.
Mindray's board plans to form a committee of independent directors to consider the proposal, the company said.
