China Biologic Products Receives Acquisition Proposal From Consortium

(RTTNews) - China Biologic Products Holdings, Inc. (CBPO) announced its board has received an unsolicited, preliminary non-binding proposal letter from a consortium consisting of Feng Tai Global Limited, a company beneficially owned by David (Xiaoying) Gao, the former Chairman and CEO of the company, GL Sandrose Investment L.P., World Investments Limited and CDH Utopia Limited to acquire all of the outstanding shares of the company not already owned by the consortium for $118 per share in cash.

The company previously announced its receipt of the unsolicited, preliminary non-binding proposal letter from CCRE Holdings Limited to acquire all of the outstanding shares of the company for $110 per share in cash.

The Board of China Biologic Products cautioned the company's shareholders and others considering trading in the company's securities that the Board is reviewing and evaluating the Consortium proposal and the CITIC proposal and no decisions have been made.