3SBio (SSRX) Gets $15/ADS 'Go Private' Offer
Tweet
Share
E-mailGet Alerts SSRX Hot Sheet
Join SI Premium – FREE
3SBio Inc. (Nasdaq: SSRX) has received a preliminary non-binding proposal letter dated September 12, 2012 from its Chairman and Chief Executive Officer, Dr. Jing Lou, and CPEChina Fund, L.P., an exempted limited partnership registered under the laws of the Cayman Islands and a China-focused private equity fund associated with CITIC Private Equity Funds Management Co. Ltd. ("CITIC PE"), to acquire all of the outstanding shares of 3SBio Inc. not currently owned by Dr. Lou and his affiliates in a going private transaction for $15 per American Depositary Share ("ADS", each ADS representing 7 ordinary shares of the Company) in cash, subject to certain conditions.
According to the proposal letter, the acquisition is intended to be financed through a combination of debt and equity capital, and the buyer consortium has been in discussion with a financial institution which has expressed interest in financing the proposed acquisition. A copy of the proposal letter is set forth below as Exhibit A.
According to the proposal letter, the acquisition is intended to be financed through a combination of debt and equity capital, and the buyer consortium has been in discussion with a financial institution which has expressed interest in financing the proposed acquisition. A copy of the proposal letter is set forth below as Exhibit A.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM (IBM) announces mixed Q1 results, HashiCorp acquisition; shares down
- KKR said to Shelve $10B Upfield Sale as ADQ Talks Fall Apart - Bloomberg
- Boeing (BA) Talks For Spirit (SPR) Purchase Only Progressing Slowly - Bloomberg
Create E-mail Alert Related Categories
Mergers and Acquisitions, Trading HaltsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
