Tongjitang Chinese Medicine Sells Off Divisions

Tongjitang Chinese Medicines Company is selling off a few of is divisions, apparently a move to slim down as it prepares to go private. A JV comprised of its founding Chairman/CEO, Mr. Xiaochun Wang, and Fosun Industrial, the Hong Kong conglomerate, offered $4.50 for each ADS in April 2010. Officially, the offer has been neither accepted nor declined. Tongjitang is currently trading for $3.54. More details.... Stock Symbol: (NYSE: TCM)