Simcere Gains Shareholder Approval for Privatization Offer

Simcere Pharma will go private, the last in a line of US-listed China pharmas to regain private-company status. Shareholders voted overwhelmingly in favor of a deal that values the company at $506 million. A consortium led by the company’s chairman and founder, Jinsheng Ren, offered $9.66 per ADS ($4.83 per ordinary share) last March. The price was a 19% premium to Simcere’s closing quote prior to the announcement of the offer. More details.... Stock Symbol: (NYSE: SCR) Share this with colleagues: // //