Here's Why China Biologic Products Holdings Inc. Soared As Much As 25.8% Today

newsfeedback@fool.com (Maxx Chatsko), The Motley Fool
Mon, 06/18/2018 - 9:41am

Shares of China Biologic Products (NASDAQ: CBPO) rose nearly 26% today after CITIC Capital Holdings made an all-cash offer to purchase the company for $110 per share, as reported by Reuters. The Chinese investment firm currently owns 5.1% of the Chinese biologics manufacturer that specializes in the production of plasma-based biopharma products. The price tag values the company at $3.65 billion, which would be close to the all-time high achieved briefly in early 2016.

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