C&O Pharm

Re: C&O Pharm

Postby winston » Tue Aug 02, 2011 10:20 am

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Singapore Hot Stocks-C&O surges on Shionogi's takeover offer

SINGAPORE, Aug 2 (Reuters) - Shares of Singapore-listed Chinese drugmaker C&O Pharmaceutical Technology surged as much as 8.9 percent on Tuesday after Japan's Shionogi <4507.T> said its plans to take control of the firm for 14.3 billion yen ($185.3 million).

Around 0105 GMT, C&O shares were up 6.7 percent at S$0.48 on a volume of 3.9 million shares, 2.7 times the average daily volume in the last 30 days.

Shionogi had agreed to buy a 24 percent stake from C&O's largest shareholder Leo Star Development and will make a general offer at a price of S$0.50 per share, a premium of around 11 percent over C&O's last traded price on July 28 before the shares were suspended.[ID:nL3E7J10HF]

Shionogi intends to jointly operate C&O with Sumitomo Corp <8053.T>, which holds about 29 percent of the total issued shares of C&O, the Singapore-listed firm said in a statement.

Source: Reuters
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Re: C&O Pharm

Postby winston » Wed Aug 17, 2011 9:18 am

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Halted again.

Will there be a battle for the company ?
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Re: C&O Pharm

Postby winston » Thu Aug 18, 2011 12:25 pm

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Shionogi makes mandatory unconditional offer for C&O

Japan's Shionogi & Co has made a mandatory unconditional offer, at 50 cents a share, for the remaining 41.83 per cent stake in China-based C&O Pharmaceutical Technology that it and concert parties do not already own.

The offer for the remaining stake, with the intention of taking C&O Pharmaceutical private, will cost Shionogi, a Japanese research-driven pharmaceutical company, $139 million if fully accepted.

If the privatisation move succeeds, C&O will join the likes of port operator Portek International and real estate developer Allgreen Properties which have recently exited the Singapore Exchange.

Reaction to the firm offer was favourable. C&O yesterday rocketed to the top volume list, gaining over 3 per cent to end at 49.5 cents, after its trading halt was lifted mid-afternoon.

The mandatory offer was triggered after Shionogi yesterday completed the acquisition of a 24.17 per cent stake from C&O executive director Gao Bin and his investment holding company, Leo Star Development, for $80.2 million.

Source: The Business Times
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Re: C&O Pharm

Postby winston » Thu Sep 01, 2011 9:16 am

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CLOSING DATE

Acceptances of the Offer must be received no later than 5.30 p.m. (Singapore time) on 28
September 2011 or such later date(s) as may be announced from time to time by or on
behalf of the Offeror (the “Closing Date”).

http://info.sgx.com/webcoranncatth.nsf/ ... penelement
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