China Nuokang deal

China Nuokang said it has gone private after shareholders approved a proposal to go private from CEO and Chairman Baizhong Xue and Kingbird Investment Inc. for $0.725 per share in cash, or $5.80 per ADS. The price values China Nuokang at $42.4 million based on 58.5 million shares outstanding at Feb. 7. Each ADS represents eight ordinary shares. Last September, the company's board approved a proposal from Xue to acquire the 38.8% of China Nuokang that he does not own or control for $5.80 per ADS (see BioCentury, Oct. 1, 2013 & Jan. 21, 2013). ...