Sinobioway Raises Offer for Vaccine Maker Sinovac to $459 Million
publication date: Jun 30, 2017
Shandong Sinobioway Biomedicine topped management's $402 million bid to privatize China vaccine maker Sinovac with a $459 million offer of its own. Sinobioway also criticized Sinovac's board for its lack of transparency. Eighteen months ago, when the Sinovac privatization saga started, Sinobioway offered $7 per share for Sinovac, improving on management's earlier $6.18 offer. Sinovac's board responded by instituting a poison pill and going silent on the proceedings. This week, Sinovac announced it had accepted management's newly raised $7 bid -- a bid that had never been publicly announced. Now, Sinobioway is offering $8 per share or $459 million. More details....
Stock Symbols: (SZE: 002581) (NSDQ: SVA)
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