While the overall proposal got the okay from 95% of the outstanding shares, the plan to take the retailer private was not approved because slightly more than the required 10% of the disinterested shareholders voted against it. As a result, the plan has been withdrawn and shares of Pou Sheng have resumed trading on the Hong Kong Stock Exchange. Under the rules of the Takeover Code, Pou Chen and Yue Yuen, the two sneaker-making entities controlled by the Tsai family who sponsored the privatization, will not be able to make another bid for at least 12 months. The news of ... Log in to view full article.