Harbin Electric (HRBN) +68.2% premarket after agreeing to be taken private by a group led by CEO...

|By:, SA News Editor

Harbin Electric (HRBN) +68.2% premarket after agreeing to be taken private by a group led by CEO Tianfu Yang in a deal that values the Chinese electric motor maker at $750M, or $24/share. Shares had fallen ~64% since an initial bid last October due to investor skepticism about the deal.