Sanjiu Pharma to Bid up to $110 Million for Shunfeng Pharma

Sanjiu Medical and Pharmaceutical expects to spend between 600 and 700 million RMB ($94.7 - $110.5 million) in its bid for a 99.83% stake in Shandong Shunfeng Pharmaceutical, the beleaguered medicated skin care company. Shufeng Pharma has put itself up for auction because disgruntled shareholders are upset with the company’s management. It established a 600 million RMB base price. Sanjiu asked shareholders for permission to spend up to 700 million RMB on the acquisition. More details.... Stock Symbol: (SHE: 000999) Share this with colleagues: var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});