3SBio to go private in $340 mln deal

Fri Feb 8, 2013 5:54am EST

Feb 8 (Reuters) - Chinese biotechnology firm 3SBio Inc said it agreed to be bought by Decade Sunshine Ltd for about $340 million.

The offer of $15.40 per American Depositary Shares (ADS) is at a premium of about 12 percent to the ADS's Thursday close of $13.79.

3SBio Chief Executive Jing Lou had offered to take the company private for up to $15 per ADS, or about $331 million, last September.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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