Cordlife inks non-binding merger proposal with NY-listed life sciences enterprise

CORDLIFE Group on Tuesday said it has made an indicative, non-binding and conditional proposal to merge with New York-listed Global Cord Blood Corporation, a life sciences enterprise.

Global Cord Blood Corporation is incorporated in the Cayman Islands and listed on the New York Stock Exchange . "If the proposed transaction is successfully implemented, the target will be privatised and its shares would be delisted from the NYSE," Cordlife said. Under the proposal, Cordlife plans to issue about 2.5 billion shares with a total value of S$1.2 billion, based on an issue price of S$0.50 per Cordlife share, in exchange for all of the outstanding equity of the target at US$7.50 each.The proposed transaction, if it proceeds, would represent a very substantial acquisition under listing rules. The deal is also subject to conditions such as the signing of more definitive transaction documentation.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nissan tells Renault 'not opposed' to Fiat Chrysler merger plan: NikkeiNissan on Wednesday told Renault it wasn't opposed to its partner's potential US$35 billion merger with Fiat Chrysler, the Nikkei newspaper said, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Nissan would review Renault ties after FCA merger: CEONissan would carry out a 'fundamental review' of its relationship with alliance partner Renault if it accepted a merger proposal from Fiat ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

CBS board plans merger talks with Viacom: CNBCCBS Corp's board is preparing for merger talks with Viacom Inc, CNBC reported ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Renault and Fiat Chrysler stuck over merger terms: ReportPARIS: Talks between Fiat Chrysler and Renault have hit a roadblock over the financial terms of the proposed merger between the Italian-US and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »