JA Solar Receives Takeover Bid From CEO Baofang Jin
Jin offered $6.80 per American depository share

JA Solar  (JASO) CEO Baofang Jin offered to buy the company he heads for $6.80 per American depository share, which represents a bundle of five shares, or $1.36 per ordinary share Tuesday.

The company's stock was up more than 3% to $6.63 in trading premarket Tuesday morning. A special committee of the board will review the offer with financial and legal advisers. 

"The special committee cautions the company's shareholders and others considering trading in the company's securities that no decision has been made by the special committee or the board with respect to the revised proposal," the company said in a statement. 

Everyone wants to sell oil stocks, but Jim Cramer believes there is a buying opportunity for the right energy securities. Read his analysis here.

More from Mergers and Acquisitions

Who Can Take Tesla Private and Why It's Actually Possible

Who Can Take Tesla Private and Why It's Actually Possible

Tesla Going Private: Bull Vs. Bear Case

Tesla Going Private: Bull Vs. Bear Case

Third Point Calls for Campbell Soup Sale

Third Point Calls for Campbell Soup Sale

Jim Cramer: Rite Aid Doesn't Have the Balance Sheet to Be Independent

Jim Cramer: Rite Aid Doesn't Have the Balance Sheet to Be Independent

3 Simple Reasons Elon Musk Is Right to Consider Taking Tesla Private

3 Simple Reasons Elon Musk Is Right to Consider Taking Tesla Private