SciClone Receives $570 Million Acquisition Offer from Ally Bridge Affiliates

SciClone Pharma, a San Francisco-area company that markets drugs in China, received an unsolicited $570 million acquisition offer. The offering group, which does not seem to include SciClone's management, is GL Capital Management GP Limited and ABG Management Limited. Both entities are allied with Ally Bridge Group, a Hong Kong-based VC/PE firm. The investor consortium offered $11.18 per share to acquire SciClone, which was 13% higher than the previous day's closing price. SciClone's management did not embrace the offer and didn't comment, except to say it would consider the offer carefully, pointing out that the consideration was their duty. More details.... Stock Symbol: (NSDQ: SCLN) Share this with colleagues: // //