CSST may go private

Surveillance products manufacturer China Security & Surveillance Technology announced last week that it recently received a buyout offer from Chairman and CEO Guoshen Tu in an attempt to take the company private.

Under the proposal, Tu, who currently owns 20.9 percent of the company’s common stock, would purchase all of the company’s outstanding shares for $6.50 per share.

The company said that its board of directors has formed a special committee to consider the offer.

According to a story published by BusinessWeek.com, CSST stock has traded between $3.98 and $8.89 over the past year.