China Nuokang hematology, cardiovascular news
China Nuokang adjourned its Jan. 15 general meeting of shareholders, which it called to authorize and approve the proposal to go private from CEO and Chairman Baizhong Xue. The company decided to adjourn the meeting without conducting any business after Kingbird Investment Inc., Xue's affiliate, said it requires additional time to obtain its contemplated debt financing for the pending transaction. China Nuokang said it will resume the meeting "as soon as practicable" following confirmation of the financing, which Kingbird said it expects no later than March 21. Last September, the company's board approved a proposal from Xue 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 (see BioCentury, Oct. 1, 2012). ...