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3SBio Inc. (SSRX)'s Shareholders Approve Go-Private Transaction


5/24/2013 12:33:13 PM

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by Richard Daverman, PhD

May 24, 2013 -- SBio Inc. will go private. A full 87% of company's shareholders voted in favor of the $16.70 per ADS amended offer. The apparent unanimity is far different that the situation one month ago. At that time, the acquiring group was forced to raise the price of the offer from $15.40 per ADS to $16.70. Some of the company’s major shareholders threatened to vote against the transaction because prospective bidders, who proposed offering up to $20, were pressured out of the process. More details....

Stock Symbol: (NSDQ: SSRX)





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