Sinovac Accepts Improved $402 Million Privatization Offer

Sinovac Biotech has accepted management's $402 million offer to take the company private. Eighteen months ago, management initially offered $6.18 per share to acquire the company. Three days later, an outside group topped that bid with a $7 offer. Now, management has raised its bid to $7 and the board has accepted the improved price, which values Sinovac at $402 million. The privatization is led by Mr. Weidong Yin, Chairman, President and CEO of Sinovac, together with SAIF Partners. Sinovac is a vaccine company with legacy vaccines for hepatitis A and B. More details.... Stock Symbol: (NSDQ: SVA) Share this with colleagues: // //