Cogo (COGO +23.9%) soars after founder/CEO Jeffrey Kang proposes to buy 30.5% of the company's...
Cogo (COGO +23.9%) soars after founder/CEO Jeffrey Kang proposes to buy 30.5% of the company's assets (responsible for 98.7% of its revenue) for $80M, through a wholly-owned company. Kang's company would also be required to pay Cogo's remaining units $750K/quarter until the end of 2014. Cogo is closing trading with a market cap of $79.9M. This isn't the first time Kang has made such a proposal.
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