TOT BIOPHARM Receives Voluntary Cash Offer at 99% Premium
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TOT BIOPHARM International Co. Ltd. (HK:1875) has received a voluntary cash offer from Citigroup Global Markets Asia Limited to acquire all issued shares not already owned by the offeror at HK$4.00 per share, representing a 99% premium over the last trading price. This offer indicates a potential change of control and is significant for Wuxi Biologics. Trading in TOT BIOPHARM shares will resume as the market assesses the implications for minority shareholders. The current analyst rating for the stock is a Hold with a price target of HK$2.50.
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