Investor group taking WuXi private in $3.3B deal

WuXi PharmaTech Inc. (NYSE:WX) gained $2.54 to $43.86 on Friday after it agreed to be acquired and taken private by Chairman and CEO Ge Li and an investor group for $46 per ADS, or $3.3 billion. The price represents a 16% premium to WuXi's close of $39.50 on April 29, before the group's proposal was announced (see BioCentury Extra, April 30).

WuXi, an R&D and manufacturing services company, will become a wholly owned subsidiary of New WuXi Life Science Ltd. (Shanghai, China). ...