Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Chinese electric motor maker Harbin Electric
So what: Looking to become the first U.S.-traded Chinese stock to be taken private, Harbin had previously agreed to be bought by Baring at a price of $24 per share. However, the agreement was amended so that Baring's participation is now limited "solely of a right (but not an obligation)" to provide up to 10% of the financing for the deal.
Now what: With the help of Goldman Sachs
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