WSP mulls offer from HDS, could go private

Dec 13, 2011 | 04:15 PM | Michael Cowden

Tags  WSP, H.D.S. Investments, Longhua Piao, Expert Master Holdings, Dennis Zhu, Weidong Wang, Michael Muhan Liu, OCTG Michael Cowden

TORONTO — WSP Holdings Ltd. is considering a non-binding offer from HDS Investments LLC, which has expressed an interest in buying the steel tube and pipe maker and taking it private, WSP said Tuesday.

HDS Investments told WSP’s board that it would pay 60 cents apiece in cash for all of WSP’s American depository shares, a 50-percent premium to its most recent New York Stock Exchange closing price of 40 cents per share. HDS would fund the proposed deal with its own capital, it said in a letter to WSP’s board dated Nov. 28.....

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