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Tongjitang Chinese Medicines Buyout Update

publication date: Aug 19, 2010
Tongjitang Chinese Medicines Company reported that it is still considering the buyout offer from a JV comprised of its Chairman/CEO and Fosun Industrial, the Hong Kong conglomerate. The JV offered $4.50 per ADS on April 8, 2010 for every share its members do not already own. Mr. Xiaochun Wang, Tongjitang’s Chairman and CEO, now has a 51% stake in the company and Fosun owns an additional 32%. Tongjitang is currently trading hands at around $3.50 per share, a 22% discount to the current offer. More details....

Stock Symbol: (NYSE: TCM)

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