Stock Alert: China Biologic Products Shares Hit 52-Week High

(RTTNews) - Shares of China Biologic Products Holdings Inc. (CBPO) reached a 52-week high of $118.90 Thursday morning, and are currently trading at $118.30, up $3.34 or 2.91%, with trading volume surging over 260K versus an average volume of 85K shares.

China Biologic Products, today, said it agreed to be taken private by CBPO Holdings Limited in a deal implying an equity value of the company of about US$4.76 billion.

The US$120.00 per share merger consideration represents a 16.8% premium over the closing price of the Shares as quoted by the NASDAQ Global Market on September 17, 2019, the last trading day prior to the company's announcement of its receipt of the "going-private" proposal.

The merger is currently expected to close during the first half of 2021. The merger will result in the company becoming a privately-held company and its shares will no longer be listed on the NASDAQ Global Select Market.