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China: Bidding war raises stakes for Chindex Int’l healthcare buyout

By  |  April 21, 2014

US-based Chindex, which provides healthcare services in China, is the subject of a bidding war for its acquisition as China-based pharmaceutical company Shanghai Fosun Pharmaceutical has reportedly raised its offer for the deal.

Chindex announced Monday it has entered into an amended merger agreement with the company.

Shanghai Fosun boosted its bid to $223.6 million for the company, a 15 percent increase from its last offer. The increased bid followed a rival offer from an unidentified bidder, reports say, made earlier this month.

Fosun Pharmaceutical first moved to acquire the company last February in efforts to take the company private. Should its bid be accepted, Focus would hold a 48.65 percent stake in the company, boosted from its current 17.45 percent.

Full Content: Reuters

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