Consortium raises offer for 3SBio

April 22 Mon Apr 22, 2013 2:35pm EDT

April 22 (Reuters) - Chinese biotechnology firm 3SBio , which agreed to be taken private by a group that includes its Chief Executive Jing Lou, said the consortium raised its offer to $16.70 per American Depositary Share from $15.40.

One of the company's top shareholders, OrbiMed Advisors, said last week that proxy advisory firm Institutional Shareholder Services recommended that 3SBio's shareholders vote against the deal.

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