Simcere group plans to private deals with buyout leadership group by the founder of the drug development companies in China.
Simcere, said on Wednesday that its board of directors has approved a deal, on this basis, shareholders will receive $9.66 per share American depositary shares or ADS. The representative of simcere's closing price of $7.96 on March 8, before the last trading day, the company announced a takeover bid from jin chengguo border, founder of the premium of about 21%.
Buy-out groups including control of his company, a new good management co., LTD., and ensure the future investment co., LTD., simcere said in March that the group will pay $9.56, each ADS, to purchase all outstanding shares do not belong to it.
Simcere production and sale of drugs in China, focusing on the treatment of diseases, such as cancer, stroke, or cardiovascular disease with high morbidity or mortality.
As a company founded in 1995, and served as the chief executive officer of simcere, until last fall, when the company called HongQuanLiu to replace him.
There is still a approved trade simcere's shareholders. The company is expected to close it at the end of this year or so.
Shares listed companies in the United States, closed at $9.36 on Tuesday and growth of 16% so far this year, after the earnings, the company announced in March.



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