Tongjitang Receives Buy-Out Offer from CEO and Fosun

Tongjitang Chinese Medicines Company (同济堂药业) has received a buy-out offer from a JV comprised of Mr. Xiaochun Wang, who is the company’s Chairman and CEO, and Fosun Industrial, the Hong Kong conglomerate. The JV has offered $1.125 per share or $4.50 per ADS, a modest 19% premium to the ADS price. If Tongjitang’s shareholders accept the offer, the company would once again be a privately held entity. More details... Stock Symbol: (NYSE: TCM)