Simcere Pharmaceutical (SCR) jumps 16.2% to $9.25 after the Chinese company receives a buyout...

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

Simcere Pharmaceutical (SCR) jumps 16.2% to $9.25 after the Chinese company receives a buyout offer of $9.56/ADS from a consortium led by its chairman, Jinsheng Ren. The bid represents a premium of 19% on Simcere's Friday close of $7.96 and values the firm at $500M. The firm has appointed a committee of independent directors to analyze the offer. (PR)