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Ally Bridge Backs $301 Million Privatization of Luoxin Pharma

publication date: Mar 15, 2017
Shandong Luoxin Pharma of Shanghai received a $301 million management-led privatization offer. Ally Bridge Group, which is participating in the deal, will buy 33% of the company's outstanding shares, and the company's management will purchase the rest. The offer represents a 25% premium over the previous closing price -- the stock has not been trading since early this month pending news. Luoxin offers a broad list of products, including antibiotics, anti-virals and cancer treatments. The offer prices the company at about 24 times earnings. More details....

Stock Symbol: (HK: 8058)

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