BioCentury
ARTICLE | Company News

3SBio going private

February 9, 2013 2:05 AM UTC

3SBio Inc. (NASDAQ:SSRX) said its board approved a proposal from CEO and Chairman Jing Lou and CPEChina Fund L.P. to take the company private for $2.20 per share in cash, or $15.40 per ADS. The price values 3SBio at about $340 million, based on about 154.6 million shares outstanding as of Sept. 30, 2012. The $15.40 price is a 32.9% premium to 3SBio's close of $11.59 on Sept. 11, 2012, before the original non-binding proposal from Lou and CPEChina to take 3SBio private for $15 per ADS in cash was made public (see BioCentury Extra, Sept. 12, 2012). ...