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. 

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