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China Biologic Receives $4.6 Billion Buyout Offer

By Matthew Walsh / Sep 19, 2019 02:27 PM / Business & Tech

Nasdaq-listed plasma-based biopharmaceutical company China Biologic Products has received a potential shot in the arm in the form of a $4.6 billion buyout offer, according to a Wednesday press release.

The offer price of $120 per share represents a 16.3% premium to China Biologic’s close of $103.10 on Wednesday.

The company, a leading provider of blood plasma-based therapies in China, received the proposal from a group of six buyers, including Beachhead Holdings and CITIC Capital China Partners, according to the release.

The offer is the second such proposal this week, after New York-listed Chinese car comparison website Bitauto received a similar proposal from internet giant Tencent and its private equity partner Hammer Capital.

Contact reporter Matthew Walsh (matthewwalsh@caixin.com)

Related: Tencent Announces Buyout Plan for New York-Listed Car Site

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