Sirtex in trading halt over developments on CDH takeover offer

Sirtex in trading halt over developments on CDH takeover offer


Biotech company Sirtex has entered a trading halt ahead of an announcement relating to "material developments" in the $1.9 billion proposal it received from CDH Investments earlier this month. The $US20 billion Chinese-based alternative asset manager made a non-binding, indicative counter offer for Sirtex at $33.60 cash a share on May 4. The CDH offer is subject to due diligence and approval by CDH's investment committee as well as the Foreign Investment Review Board.



from Biotech News