Hailiang Feng, Hailiang Education founder, offered to acquire and privatize Hailiang Education Group, an education and management services provider for primary, middle, and high schools in China, for $5.9bn. "The company cautions that the Board has just received the proposal and has not made any decisions with respect to the proposal and the proposed transaction. There can be no assurance that the Buyer will make any definitive offer to the company, that any definitive agreement relating to the proposal will be entered into between the company and the buyer, or that the proposed transaction or any other similar transaction will be approved or consummated," Hailiang Education Group.