March 10, 2008 -- Tongjitang Chinese Medicines Company (NYSE: TCM) received a buy-out offer from its Chairman and CEO, Mr. Xiaochun Wang, for $10.20 per ADS, a 55% premium to its closing price on Friday of $6.60 per ADS. Tongjitang makes modernized forms of traditional Chinese medicines. Tongjitang made its IPO in March of 2007 at $10 per ADS. It has traded as high as $12.88, but the recent downtrend in stock markets took the stock price to new lows. More details...
