Full Alliance increases Yongye going private offer to $7 per share

Yongye disclosed in a regulatory filing that on March 26 the consortium including Full Alliance International Limited, Yongye and Yongye International Merger Sub Limited submitted a proposal via electronic mail to the special committee of the board of directors of the company in which it offered to increase the previously offered merger consideration payable to holders of the publicly held shares in connection with the proposed merger from $6.69 per share to $7 per share. Note Yongye previously announced on March that the proposal to approve the previously announced agreement and plan of merger among the company and the consortium did not receive approval from at least a majority of the issued and outstanding shares of common stock of the company.