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