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Yunfeng Capital Bids $20-$25/ADS for China's iKang Healthcare Group

publication date: Jun 7, 2016
Yunfeng Capital, an investment company formed by Alibaba's Jack Ma, bid to acquire iKang Healthcare, a chain of China clinics, in an all-cash deal. Yufeng offered $20-$25 per ADS, though it was not disclosed what would determine the final price. Ten months ago, iKang's Founder and CEO, Ligang Zhang, offered $17.80 in cash to privatize iKang. iKang's chief rival in the China private clinic business, Meinian Onehealth, soon countered with a $23.50 per ADS acquisition offer. Yunfeng's bid, at the top price, values iKang at $1.6 billion. iKang has never upped its initial offer, despite the higher compteting bids. More details....

Stock Symbols: (NYSE: BABA) (NSDQ: KANG)

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