Pactera committee to consider going-private offer
Chinese consulting and technology services company Pactera Technology International Ltd. said Wednesday that its board has created a special committee to consider an offer from a group that includes its CEO to take the company private.
The amount of the offer was not disclosed, but the company's shares rose in premarket trading.
Aside from CEO Tiak Koon Loh, the group also includes non-executive Chairman Chris Chen, executive committee members David Chen, Sidney Huang and Jun Su and an affiliate of funds managed or advised by Blackstone.
The special committee includes four independent directors.
Pactera was created through a merger of HiSoft Technology International Ltd. and VanceInfo Technologies Inc.
The company's stock gained 18 cents, or 2.7 percent, to $6.90 before the market open.