Thu, Feb. 4, 8:18 AM
- Sinovac (NASDAQ:SVA) received a preliminary non-binding proposal yesterday from a group of Chinese investors who seek to acquire the company for $7 per share in cash. The competing bid follows one received on January 30 from an investor group led by Chairman, President & CEO Weidong Yin for $6.18 per share.
- A special committee of the firm's independent directors will evaluate the offers.
- Shares are up 8% premarket on increased volume.
Sinovac Biotech Ltd. is biopharmaceutical company that focuses on research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases including hepatitis A and B, seasonal influenza, H5N1 pandemic influenza and mumps, as well as animal rabies... More