Simcere agrees to $495.4M buyout deal

|About: Simcere Pharmaceutical Group (SCR)|By:, SA News Editor

China's Simcere Pharmaceutical (SCR) has agreed to be taken private by a consortium that includes founder and Chairman Jinsheng Ren in a deal worth $495.4M.

The buyout group, which already owns 78% of the company, is offering $9.66 per ADS, or a premium of 3% to the company's close of $9.36 yesterday. The price is also above a previous offer of $9.56. (PR)