Ex-CEO at Chi­na Bi­o­log­ic spear­heads $3.9B buy­out of­fer; Sy­neos ac­quires Ki­napse, adding 600 staffers

Just weeks af­ter Bei­jing-based Chi­na Bi­o­log­ic $CBPO boot­ed its chair­man and CEO David Gao “for cause,” the ex­ec­u­tive has bounced back at the head of a promi­nent con­sor­tium look­ing to buy the com­pa­ny in a $3.9 bil­lion all-cash bid.

Gao’s group — which in­cludes GL Cap­i­tal Group, Bank of Chi­na Group In­vest­ment Lim­it­ed and CDH In­vest­ments — is bid­ding $118 a share for the com­pa­ny. That is well ahead of the $3.65 bil­lion of­fer on the ta­ble from CITIC Cap­i­tal. 

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.