Facing Two Privatization Offers, Sinovac Adopts Poison Pill
publication date: Mar 29, 2016
Sinovac Biotech, a Beijing vaccine maker, has adopted a poison pill defense to prevent unwanted takeover attempts. The company's board authorized a distribution of preferred shares, which, if activated, would render the company too expensive to acquire. In early February, Sinovac received a privatization offer of $6.18 per share from management that values the company at $345 million. A few days later, an outside group of China investors/pharmas offered $7 per share or $390 million for Sinovac. The board is considering both proposals. More details....
Stock Symbol: (NSDQ: SVA)
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