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U.S. companies skeptical of corporate China's advances
April 27, 2016 1:34 AM EDTBy Greg Roumeliotis and Mike Stone
(Reuters) - Chinese life sciences entrepreneur Wei Zhou submitted a $1.5 billion bid for U.S. gene testing company Affymetrix last month - topping a $1.3 billion agreed acquisition by Thermo Fisher Scientific Inc (NYSE: TMO). A few days later, he got an unusual deadline.
Affymetrix's CEO Frank Witney called Zhou, a former Affymetrix executive who had partnered with Shanghai government-backed investment firm SummitView Capital on his offer. Witney gave him five days to put the full purchase price and the breakup fee that would be owed Thermo... More
