Alibaba-Led Group Creates New Twist in Clinic Chain’s Privatization Saga
A consortium that includes Alibaba Group Holding Ltd. is reconsidering its plan to privatize Nasdaq-listed clinic operator iKang Healthcare Group Inc., adding another chapter to a three-year-long acquisition drama.
IKang said it was informed about the change by the consortium, which said it is “re-evaluating the commercial viability” of the deal that was inked in March to take over the company for $20.60 per American depositary share (ADS).
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