11:44 AM
 | 
Aug 31, 2018
 |  BC Week In Review  |  Financial News  |  Proposed Offerings

China Biologic spurns acquisition proposal, seeks $590M raise

Plasma products company China Biologic Products Holdings Inc. (NASDAQ:CBPO) said it turned down an acquisition proposal made on Aug. 17, and said it is raising $590 million in a private placement.

The Aug. 17 proposal to take the company private for $118 per share in cash was made by a consortium comprising former executive David Gao, GL Capital Group, Bank of China Group Investment Ltd. and CDH Investments. The price values the company at $3.9 billion, based...

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