Sinovac mulls take-private proposal

Sinovac Biotech Ltd. (NASDAQ:SVA) gained $0.78 (16%) to $5.80 on Monday after it received a non-binding proposal from President and CEO Weidong Yin and existing shareholder SAIF Partners to acquire all outstanding shares of the company for $6.18. The price is a 23% premium to Sinovac's Friday close of $5.02.

Sinovac appointed board members Simon Anderson, Meng Mei and Yuk Lam Lo to a committee that will consider the proposal. ...