OmniVision Gets $29/shr Proposal From HCM Led Investors Group - Quick Facts

(RTTNews) - Digital imaging solutions provider OmniVision Technologies Inc. (OVTI) said Thursday that it has received a preliminary non-binding proposal letter dated August 12, 2014 from Hua Capital Management Ltd. or "HCM", a Beijing-based investment management company, by which a group of investors led by HCM proposes to acquire all of the outstanding shares of common stock of the Company in cash, at $29.00 per share.

The investment group led by HCM includes Shanghai Pudong Science and Technology Investment Co. Ltd., a wholly state-owned limited liability company, established directly under the Pudong New Area government of Shanghai.

The company stated that its board is reviewing and evaluating HCM's proposal. No decision has been made with respect to the proposed transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.