August 28, 2018 / 4:21 PM / 3 months ago

UK's Sinclair Pharma agrees to potential offer from China's Huadong

Aug 28 (Reuters) - Britain’s Sinclair Pharma has agreed on the terms of a potential 32 pence per share cash offer from a unit of China’s Huadong Medicine Co.

The proposed offer, which would value the London-listed maker of skin lifting, collagen stimulation treatments and dermal fillers at roughly 161.2 million pounds ($205.6 million), comes after three deadline extensions for Huadong to make a bid.

Huadong has also agreed to announce a firm intention to make an offer for Sinclair before Oct. 2, ahead of the Oct. 5 deadline under UK takeover rules. ($1 = 0.7841 pounds) (Reporting by Muvija M in Bengaluru Editing by David Goodman)

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