Sinobioway counters Sinovac buyout offer

A consortium led by Shandong Sinobioway Biomedicine Co. Ltd. (SZSE:002581) has entered a counteroffer to acquire Sinovac Biotech Ltd. (NASDAQ:SVA), which said last week an investor syndicate led by its Chairman, President and CEO Weidong Yin and SAIF Partners would take the company private.

Sinobioway said its group has offered $8 per share. Sinovac said last week it had accepted a bid from Yin's consortium of $7 per share. Sinovac did not respond to inquiries on Monday (see BioCentury Extra, June 26)...