BioCentury
ARTICLE | Company News

Sinovac deal

February 8, 2016 8:00 AM UTC

Sinovac received a non-binding proposal from a consortium of Chinese companies to acquire the company for $7 per share in a deal that values Sinovac at $398.4 million based on 56.9 million shares outstanding on Dec. 31, 2015. The consortium is comprised of PKU V-Ming Investment Holdings Co. Ltd., Shandong Sinobioway Biomedicine Co. Ltd., CICC Qianhai Development Fund Management Co. Ltd., Beijing Sinobioway Group Co. Ltd., Heng Feng Investments Ltd. and Fuerde Global Investment Ltd.

Earlier last week, Sinovac received a non-binding proposal from President and CEO Weidong Yin and existing shareholder SAIF to acquire the company for $6.18 per share. SAIF held an 18.9% stake at the end of January. ...