Why Yongye (YONG) Shares Are Gaining Today

NEW YORK (TheStreet) -- Yongye International (YONG) was gaining 13.3% to $6.80 Wednesday on news of an increased offer from Full Alliance International.

In a regulatory filing Yongye disclosed that Full Alliance submitted a proposal to the special committee of the board of directors that increased its offer for merger consideration payable to shareholders to $7 a share from $6.69.

Earlier in March Yongye said Full Alliance's previous offer did not gain approval from at least the majority of shareholders of the company.

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