A consortium composed of David Gao, GL Capital Group, Bank of China Group Investment Limited, and CDH Investments announced it has made a non-binding proposal to acquire all of the outstanding common shares of China Biologic Products Holdings, that are not already held by the Consortium, for $118.00 per share in an all-cash transaction valued at approximately $3.9B. The proposal was conveyed on August 17, 2018 in a letter to China Biologic’s board. The Consortium’s proposal represents an approximate 30% premium to China Biologic’s closing share price on August 16, 2018, and an approximate 40% premium to the company’s closing price on June 8, 2018, the last trading day before CITIC Capital’s proposal to acquire the company for $110.00 per share was conveyed.
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