JSR acquiring Chinese CRO Crown

JSR Corp. (Tokyo:4185) said Wednesday it will acquire Chinese CRO Crown Bioscience International Inc. (TPEx:6554) for NT$75 per share, or NT$12 billion ($400 million). The price is a 92% premium to Crown's close Tuesday of NT$39.10. Crown expects the deal to close by 2Q18.

Crown Chairman Guo-Liang Yu told BioCentury that the company will operate independently as a wholly owned subsidiary of JSR...