WuXi spikes on take-private proposal

WuXi PharmaTech Inc. (NYSE:WX) gained $3.67 to $43.17 after the R&D and manufacturing services company said it had received a proposal to be taken private by Chairman and CEO Ge Li and Ally Bridge Group for $46 per ADS, or $3.3 billion. The price represents a 16% premium to WuXi's close of $39.50 on Wednesday, before the offer was announced.

Li held a 1.4% stake in WuXi as of April 3, according to its SEC Form 20-F filing. Principal shareholders listed in the filing included FIL Ltd. with 10%, Schroder Investment Management North America with 9.2% and Wellington Management Group with 7.5%. ...