Global Cord Blood Corporation Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2021 prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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HONG KONG, March 2, 2021 /PRNewswire/ Global Cord Blood Corporation (NYSE: CO) ( GCBC or the Company ), China s leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services, today announced that its board of directors (the Board ) has received a non-binding proposal letter from Alternate Ocean Investment Company Limited ( Alternate Ocean ), a wholly-owned subsidiary of Haitong International Securities Group Limited (Stock Code: 665.HK), pursuant to which Alternate Ocean, acting on behalf of certain funds and/or entities that it manages and/or advises, proposes to acquire all of the outstanding ordinary shares of the Company for US$5.00 per ordinary share in cash, subject to certain conditions.
Alternate Ocean Proposes To Acquire Global Cord Blood For US$5.00/shr
BEIJING (dpa-AFX) - Global Cord Blood Corp. (CO) said that it has received a non-binding proposal letter from Alternate Ocean Investment Company Limited, a wholly-owned subsidiary of Haitong International Securities Group Limited, by which Alternate Ocean proposes to acquire all of the outstanding ordinary shares of the company for US$5.00 per ordinary share in cash.
Global Cord Blood said it will carefully review the unsolicited proposal to determine the course of action it believes is in the best interests of the Company and its shareholders and other stakeholders. Global Cord Blood shareholders need take no action at this time.
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Shares of
Global Cord Blood Corporation (NYSE:CO), a provider of umbilical cord blood stem cells storage, are rising sharply on Tuesday, following the company s announcement of an unsolicited non-binding acquisition proposal. As of 12:25 p.m. EST, Global Cord Blood s stock was up by 11.5% after popping by as much as 14.6% earlier in the day.