Hearing Harbin Electric $24/Buyout Offer May Be False

Rumors are circulating that the $24/buyout offer announced today for Harbin Electric HRBN may be false. The 7:30am press release from today can be found here. At last check, stock of Harbin Electric is currently trading below $14/share, which represents an enormous arbitrage opportunity if the stock is actually worth $24/share. Harbin Electric previously announced a $24/share buyout in October of 2010: http://www.benzinga.com/market-update/10/10/517644/hrbn-receives-buyout-proposal-of-24-per-share