China Biologic Products Holdings, Inc., a fully integrated plasma-based biopharmaceutical company in China, announced that its board has received an unsolicited, preliminary non-binding proposal letter from CCRE Holdings Limited, a wholly owned subsidiary of CITIC Capital Holdings Limited.
CITIC proposes to acquire all of the outstanding shares of the company not already owned by CITIC for $110 in cash per share, or approximately $3.7 billion.
The board cautioned shareholders and others considering trading in the company’s securities that the board is reviewing and evaluating CITIC’s proposal and no decisions have been made with respect to the company’s response.
There can be no assurance that any definitive offer will be made, that any agreement will be executed, or that this or any other transaction will be approved or consummated.
(Source: China Biologic Products Holdings, Inc.)
Filed Under: Drug Discovery