LakeShore Biopharma Receives Revised Proposal To Acquire Company

The company said the revised preliminary non-binding letter proposes the acquisition of all outstanding ordinary shares in an all-cash transaction for $0.86 apiece.

LakeShore Biopharma Co., Ltd (LSB) on Thursday announced that its board of directors has received a revised preliminary non-binding proposal letter from a consortium to acquire all of the outstanding ordinary shares of the company in an all-cash transaction for $0.86 per ordinary share.

The consortium is comprised of Oceanpine Investment Fund II LP, Oceanpine Capital Inc., and Crystal Peak Investment Inc.

The revised proposal letter, dated August 26, revises the preliminary non-binding proposal letter dated August 18, previously received from Oceanpine Capital. 

Get updates to this developing story <directly on Stocktwits.<