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Founder sweetens go-private offer for ZAIS Group after rival bid

ZAIS Group Holdings Inc. founder and Chairman Christian Zugel told the company he is willing to increase the offer to take the company private to $4.10 per class A share .

Zugel in early September proposed to acquire the company for $4.00 per class A share after the company said it was reviewing strategic alternatives, including an outright sale or potentially a going-private transaction.

The founder's revised offer comes after the special committee received a counterproposal with respect to a take private transaction at $4.30 per class A share. The special committee determined that Zugel's initial offer was inadequate.

No definitive agreement has been reached between the company and Zugel so far with respect to a take private transaction, ZAIS Group said in a regulatory filing.