June 18, 2018 / 10:59 AM / 10 months ago

CITIC Capital offers to buy China Biologic for $110 per share

(Reuters) - A unit of Chinese investment firm CITIC Capital Holdings Ltd said on Monday it has offered to buy U.S.-listed biotech firm China Biologic Products Holdings Inc (CBPO.O), in a deal valuing the company at $3.65 billion.

China Biologic makes and sells plasma products, such as human immunoglobin, to prevent diseases such as measles and hepatitis.

The company’s shares rose 15.8 percent to $95 in premarket trading.

The unit, CCRE, offered $110 in cash for each share of China Biologic it does not already own. (bit.ly/2leBZGo)

As of June 8, CCRE owned a 5.1 percent stake in China Biologic.

CCRE said it plans to finance the transaction with a combination of debt and equity.

Reporting by Manas Mishra in Bengaluru; Editing by Sai Sachin Ravikumar and Shounak Dasgupta

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