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3SBio to Go Private

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February 8, 2013 | Comments (0)

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3SBio (NASDAQ: SSRX  ) will no longer trade as a public company.  \The China-based firm announced that it will be taken off the market by a group captained by CEO Jing Lou, in addition to that nation's CITIC Capital. The buyout will see the group absorb 3SBio stock in exchange for $2.20 per ordinary share and $15.40 per American Depositary Receipt.

The latter price represents a premium of approximately 12% over 3SBio's most recent closing price on the Nasdaq. All told, the transaction should amount to around $340 million.

Jing's investor group already controls roughly 18% of the company.

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Fool contributor Eric Volkman has no position in 3SBio. The Motley Fool recommends 3SBio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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5/24/2013 4:00 PM
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