Emeren Group (SOL) said it has retained Kroll as its financial advisor and Morrison & Foerster as its US legal counsel to assist a special committee of its board to evaluate a preliminary non-binding proposal for its business as well as other strategic alternatives.
On March 17, Emeren's largest shareholder proposed buying the rest of the company's stock in a "going private" transaction.
The company said there was no assurance that any definitive offer will be received or any transaction consummated.
Emeren shares were more than 5% higher in recent trading.
Price: 1.35, Change: +0.07, Percent Change: +5.39
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