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Sinobioway Raises Offer for Vaccine Maker Sinovac to $459 Million

00:37 EDT 1 Jul 2017 | ChinaBio Today

Shandong Sinobioway Biomedicine topped management's $402 million bid to privatize China vaccine maker Sinovac with a $459 million offer of its own. Sinobioway also criticized Sinovac's board for its lack of transparency. Eighteen months ago, when the Sinovac privatization saga started, Sinobioway offered $7 per share for Sinovac, improving on management's earlier $6.18 offer. Sinovac's board responded by instituting a poison pill and going silent on the proceedings. This week, Sinovac announced it had accepted management's newly raised $7 bid -- a bid that had never been publicly announced. Now, Sinobioway is offering $8 per share or $459 million. More details....

Stock Symbols: (SZE: 002581) (NSDQ: SVA)

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Vaccine
A vaccine is a biological preparation that improves immunity to a particular disease. A vaccine typically contains an agent that resembles a disease-causing microorganism, and is often made from weakened or killed forms of the microbe, its toxins or one ...