Harbin Electric (HRBN) announces a buyout bid led by CEO Tianfu Yang. Yang and his affiliates...

|By:, SA News Editor

Harbin Electric (HRBN) announces a buyout bid led by CEO Tianfu Yang. Yang and his affiliates are offering $24/share for the 68.9% of Harbin common stock that Yang doesn't already own. Harbin says it's considering the proposal. Shares +18.3% to $23.61. (PR)