Aug. 28, 2013, 7:20 AM
- 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)
Mar. 11, 2013, 8:29 AM
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)| Mar. 11, 2013, 8:29 AM