May 22, 2018 / 8:51 AM / a month ago

Australia's Sirtex Medicals gets binding offer from China's CDH

May 22 (Reuters) - Australian liver cancer treatment provider Sirtex Medical Ltd on Tuesday said it received a binding takeover offer from Chinese private equity firm CDH Investments.

CDH Investments this month made a last-minute offer of $1.4 billion, or A$33.60 per share, for Sirtex Medical, topping Varian Medical Systems days before the U.S. firm was set to seal a takeover deal.

Sirtex would make a recommendation on which proposal it believed was in shareholders’ best interests after it assessed the CDH offer, the company said in a statement.

In January, Varian offered to buy Sirtex Medical for A$28 per share. (Reporting by Susan Mathew in Bengaluru; Editing by Clarence Fernandez)

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