China Biologic Products Gets $110/share Acquisition Proposal From CCRE Holdings

(RTTNews) - China Biologic Products Holdings, Inc. (CBPO), a fully integrated plasma-based biopharmaceutical company in China, said its board of directors has received an unsolicited, preliminary non-binding proposal letter from CCRE Holdings Limited, a wholly owned subsidiary of CITIC Capital Holdings Limited.

Under the proposal, CITIC proposes to acquire all of the outstanding shares of the company not already owned by CITIC for $110 in cash per share.

China Biologic Products' Board has cautioned the company's shareholders and others considering trading in its securities that the Board is reviewing and evaluating CITIC's proposal and no decisions have been made with respect to the company's response to the proposal.

There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated, the company said.