Deals
Ambow Buyout Bid Scrapped as Solars Fall: China Overnight
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Chinese stocks listed in New York fell, led by solar companies, while trading in Ambow Education Holding Ltd. was suspended for a second day as a buyout offer for the education provider was withdrawn.
The Bloomberg China-US Equity Index of the most-traded Chinese equities in the U.S. slipped 0.2 percent to 92.08 as Trina Solar Ltd. and Yingli Green Energy Holding Co. sank more than 9 percent. Baring Private Equity Asia Ltd. terminated its March 15 offer for Ambow, saying the resignation of the Beijing-based tutoring company’s auditors and three directors made it impossible to proceed with the deal, according to a letter from Baring filed yesterday.