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Alibaba-Backed Bid Revives Talk of iKang Buyout

A bidding war for private clinic operator iKang has come back to life with a bid of $20 per American Depositary Share by Jack Ma-backed Yunfeng Capital. Photo: VCG
A bidding war for private clinic operator iKang has come back to life with a bid of $20 per American Depositary Share by Jack Ma-backed Yunfeng Capital. Photo: VCG

Bidding has resumed to privatize Nasdaq-listed clinic operator iKang Healthcare, with an offer from Alibaba Investment Ltd. and Yunfeng Capital, which is backed by Alibaba founder Jack Ma, coming nearly two years after the proposal got stuck amid competing offers.

The latest proposal from Yunfeng and the affiliate of Alibaba Group Holding Ltd. offered an all-cash buyout of iKang Healthcare Group Inc. for $20 per American Depositary Share (ADS) or $40 per share, according to an iKang statement on Monday

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