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Tongjitang Chinese Medicines Company (TCM) Slims Down; Will Sell Three Divisions for $38.1 Million to Guizhou Huixian Investment Management Co. Ltd.



9/28/2010 1:30:15 PM

September 28, 2010 -- Tongjitang Chinese Medicines Company is selling off a few of is divisions, apparently a move to slim down as it prepares to go private. A JV comprised of its founding Chairman/CEO, Mr. Xiaochun Wang, and Fosun Industrial, the Hong Kong conglomerate, offered $4.50 for each ADS in April 2010. Officially, the offer has been neither accepted nor declined. Tongjitang is currently trading for $3.54. More details....

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