China Nuokang deal

China Nuokang said its board approved a proposal to go private from CEO and Chairman Baizhong Xue. In May, Xue offered to acquire the 38.8% of China Nuokang that he does not own or control for $5.80 per ADS, or about $43.4 million in cash. The price is a 57% premium to the closing price on May 8, the day before the proposal was announced. Each ADS represents eight ordinary shares. The deal, which is expected to close in 1Q13, is subject to shareholder approval. Lazard Asia and Houlihan Lokey advised China Nuokang (see BioCentury, May 14). ...