A unit of Chinese investment firm CITIC Capital Holdings Ltd said on Monday it has offered to buy U.S.-listed biotech firm China Biologic Products Holdings Inc (CBPO.O), in a deal valuing the company at $3.65 billion.
China Biologic makes and sells plasma products, such as human immunoglobin, to prevent diseases such as measles and hepatitis.
The company’s shares rose 15.8 percent to $95 in premarket trading.
The unit, CCRE, offered $110 in cash for each share of China Biologic it does not already own. (bit.ly/2leBZGo)
As of June 8, CCRE owned a 5.1 percent stake in China Biologic.
CCRE said it plans to finance the transaction with a combination of debt and equity.
Source: https://www.pehub.com/2018/06/citic-capital-offers-to-buy-china-biologic-for-110-per-share-reuters/
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