3SBio Exec, PE Firm Put Up $380M To Sweeten Go-Private Bid

Law360, Chicago (April 24, 2013, 7:56 PM EDT) -- On the eve of a shareholder vote to approve the deal, 3SBio Inc.’s CEO and his private equity backers have upped their offer to take the Chinese biotech firm private to about $380 million, 3SBio said Wednesday.

The buyer group — 3SBio Chairman and CEO Jing Lou and a unit of CITIC Private Equity Funds Management Co. Ltd. — increased their bid by 8.4 percent over a $350 million deal announced in February, according to a statement from the company.

Under the terms of the deal,...
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