SciClone going private in $605M deal

SciClone Pharmaceuticals Inc. (NASDAQ:SCLN) said it will be acquired by an investor syndicate led by GL Capital Management for $11.18 per share in cash, or about $605 million. Other investors include Bank of China Group Investment, CDH Investments, Ascendent Capital Partners and Boying Investments. The deal is expected to close by year end, and is subject to approval by shareholders.

The price is an 11% premium to SciClone's close of $10.10 on June 7, the day before the deal was announced...