Sinovac going private

Sinovac Biotech Ltd. (NASDAQ:SVA) said it will be acquired by an investor syndicate led by Chairman, President and CEO Weidong Yin and SAIF Partners for $7 per share, or about $401.8 million. Other investors include C-Bridge Capital, Advantech Capital and Vivo Capital. The deal, which is subject to shareholder approval, is expected to close this year.

Shortly after the announcement, a consortium led by Shandong Sinobioway Biomedicine Co. Ltd. (SZSE:002581) entered a counteroffer to acquire Sinovac. Sinobioway said its group has offered $8 per share, which values the company at $459.2 million. The consortium also includes CICC Qianhai Development Fund Management and CITIC M&A Fund Management. Sinovac did not respond to inquiries...