Global Cord Blood Corporation Announces Receipt of Preliminary Non-Binding Proposal to Acquire the Company
Global Cord Blood Corporation (CO)
US:NYSE Investor Relations:
ir.chinacordbloodcorp.com
Company Research
Source: PR Newswire
HONG KONG, June 4, 2019 /PRNewswire/ -- Global Cord Blood Corporation (NYSE: CO) (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 has received a non-binding proposal letter from Cordlife Group Limited ("Cordlife"), a company listed on the Mainboard of the Singapore Exchange Securities Trading Limited ("SGX"), pursuant to which Cordlife proposes to combine the businesses of Cordlife and the Company, by way of a statutory merger. Cordlife will issue its ordinary shares at an issue price of SGD0.5 per ordinary share in exchange for all of the outstanding ordinary shares of the Company at US$7.50 per ordinary share. According to the proposal letter, which is dated June 4, 2019, Cordlife would issue approximately 2,497.9 million ordinary shares in exchange for all of the outstanding shares of the Company. Upon completion of the proposed trans
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