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Sinovac Accepts Improved $402 Million Privatization Offer

publication date: Jun 26, 2017
Sinovac Biotech has accepted management's $402 million offer to take the company private. Eighteen months ago, management initially offered $6.18 per share to acquire the company. Three days later, an outside group topped that bid with a $7 offer. Now, management has raised its bid to $7 and the board has accepted the improved price, which values Sinovac at $402 million. The privatization is led by Mr. Weidong Yin, Chairman, President and CEO of Sinovac, together with SAIF Partners. Sinovac is a vaccine company with legacy vaccines for hepatitis A and B. More details....

Stock Symbol: (NSDQ: SVA)

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