(Total Views: 485)
Posted On: 02/21/2018 2:40:00 PM
Post# of 11803
Re: frankbell1964 #4159
"Last week" was actually Jan 23, 2018 (Your copied source)
https://www.reuters.com/article/us-sinocare-m...SKBN1FC1DY
Deals
January 23, 2018 / 3:41 AM / a month ago
China's Sinocare in deal talks, it says after reported interest in J&J unit
Reuters Staff
2 Min Read
HONG KONG (Reuters) - Chinese medical company Sinocare Inc (300298.SZ) is in preliminary talks on a potential deal, it said on Tuesday after Reuters reported last week that it was a potential bidder for U.S. group Johnson & Johnson’s (JNJ.N) diabetes care business.
Reuters reported on Jan. 17 that a consortium of Sinocare and China Jianyin Investment, owned by sovereign wealth fund China Investment Corp, has hired an adviser to work on a possible deal with J&J worth up to $4 billion.
Sinocare, which develops and manufactures blood sugar monitoring systems, said in a stock exchange filing that it had hired advisers to study the structure and pricing of a potential transaction but had not submitted any binding bid to the potential seller nor reached any agreement.
The company said there is no timetable for a bidding process and no guarantee that talks would continue.
Sinocare, which suspended trading of its shares on Jan. 18, will resume trading tomorrow, it said.
Reporting by Kane Wu; Editing by David Goodman
There has been no update since this report.
https://www.reuters.com/article/us-sinocare-m...SKBN1FC1DY
Deals
January 23, 2018 / 3:41 AM / a month ago
China's Sinocare in deal talks, it says after reported interest in J&J unit
Reuters Staff
2 Min Read
HONG KONG (Reuters) - Chinese medical company Sinocare Inc (300298.SZ) is in preliminary talks on a potential deal, it said on Tuesday after Reuters reported last week that it was a potential bidder for U.S. group Johnson & Johnson’s (JNJ.N) diabetes care business.
Reuters reported on Jan. 17 that a consortium of Sinocare and China Jianyin Investment, owned by sovereign wealth fund China Investment Corp, has hired an adviser to work on a possible deal with J&J worth up to $4 billion.
Sinocare, which develops and manufactures blood sugar monitoring systems, said in a stock exchange filing that it had hired advisers to study the structure and pricing of a potential transaction but had not submitted any binding bid to the potential seller nor reached any agreement.
The company said there is no timetable for a bidding process and no guarantee that talks would continue.
Sinocare, which suspended trading of its shares on Jan. 18, will resume trading tomorrow, it said.
Reporting by Kane Wu; Editing by David Goodman
There has been no update since this report.
(1)
(0)
