China Vanke

The developer’s 11-member board, whose tenure expires on March 27, will continue to serve while Vanke works on a new plan, president Yu Liang said.

Vanke delays new board to hold Baoneng at bay

China Vanke Co., the country’s second-largest developer and target of a hostile takeover last year, said it will refrain from appointing a fresh board of directors even as their tenure ends, dealing a fresh blow to the acquirer Baoneng Group’s effort to seize control.