September 18, 2019 / 9:44 PM / a month ago

China Biologic receives $4.59 billion take-private buyout offer

(Reuters) - China Biologic Products Holdings Inc (CBPO.O) said on Wednesday it had received a take-private deal for $4.59 billion in cash from a consortium of buyers.

Shares of the company, which develops plasma-based therapies and was listed on the Nasdaq in 2009, were up 7% after market.

The offer of $120 per share represents a premium of 16.3% to China Biologic’s Wednesday close of $103.10.

The buyer group includes Beachhead Holdings Ltd, CITIC Capital China Partners IV LP, PW Medtech Group Ltd, Parfield International Ltd, HH Sum-XXII Holdings Ltd and V-Sciences Investments Pte Ltd. (reut.rs/2mnFvlQ)

In August 2018, China Biologic rejected a $3.9 billion offer from a consortium led by its former chief executive officer. (reut.rs/2BKMZXo)

Reporting by Bharath Manjesh in Bengaluru; Editing by Shounak Dasgupta

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