March 11, 2013 / 11:57 AM / in 5 years

China's Simcere Pharma gets buyout offer from chairman

March 11 (Reuters) - China-based Simcere Pharmaceutical Group received a buyout offer from a consortium led by Chairman Jinsheng Ren for $9.56 per American depositary share (ADS), valuing the company at about $500 million.

The offer represents a premium of 19 percent to Simcere’s Friday close.

Simcere said on Monday it has formed a special committee of independent directors to consider the proposal.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below