TAIPEI (The China Post) — Global Cord Blood Corporation (GCBC) on Wednesday announced that its board of directors has received a non-binding proposal letter from Alternate Ocean Investment Company Ltd.
Alternate Ocean, a wholly-owned subsidiary of Haitong International Securities Group Ltd., proposes to acquire all of the outstanding ordinary shares of the company for US$5 per ordinary share in cash, subject to certain conditions.
In response to the bid, the GCBC board said it will carefully review the unsolicited proposal to determine the course of action and asked GCBC shareholders to take no action at this time.
GCBC is the first and largest umbilical cord blood banking operator in mainland China in terms of geographical coverage and the only cord blood banking operator with multiple licenses.
The company provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services.