Tongjitang Chinese Medicine Reaches De-listing Deal

Tongjitang Chinese Medicines will be taken private by group comprised of its Chairman and Fosun Industrial at a price of $4.50 per ADS. The offer was originally made in April of this year. The result was never really in doubt, as Xiaochun Wang, Chairman and CEO of Tongjitang, owns 51% of the company, and Fosun controls 32%, giving them a combined 83% stake in the company. More details.... Stock Symbol: (NYSE: TCM)