China Nuokang hematology, cardiovascular news

China Nuokang's board received a preliminary, non-binding proposal from the company's CEO and Chairman Baizhong Xue to acquire the 39.8% of the company that Xue 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 of the company's ADS, which represents eight ordinary shares, on May 8, the day before the proposal was announced. The board will form a special committee of independent directors to consider the proposal. Kirkland & Ellis International is acting as legal advisor to Xue, who intends to take the company private. ...