WuXi receives bid to take it private

By Zachary Brennan contact

- Last updated on GMT

WuXi receives bid to take it private

Related tags: Manufacturing, Finance

China-based contract research and manufacturing company WuXi PharmaTech has received a proposal to be taken private by a consortium led by its CEO and Ally Bridge Group Capital Partners.

Under the proposal by CEO Ge Li and Ally, the group would  purchase all remaining shares for $46, which would provide a 16.5% premium to WuXi's closing price on Wednesday. This morning the shares rose to $46.

The purchase is intended to be financed with a combination of debt and equity capital.  The proposal letter also states that Li and Ally have agreed to work together exclusively in pursuing the transaction.

Related topics: Clinical Development

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