Complex takeover battle for iKang healthcare continues

Spotlight
Takeover battle

U.S.-listed iKang ($KANG) remains in play, according to a report, even after an offer earlier this month that suggested a Jack Ma-linked investment firm had won a bidding war for the operator of health clinics in China.

Chinese online news and data service Caixin said China Life Insurance has bid "slightly higher" than $20 per American Depositary Share (ADS), creating another variation on an earlier offer.

Earlier this month, Yufeng, backed by Alibaba ($BABA) founder Ma, announced an all-cash offer of $20-$25 per ADS on its own, beating a management-led bid of $17.80 per ADS made nearly a year ago.

Whitepaper

Simplify and Accelerate Drug R&D With the MarkLogic Data Hub Service for Pharma R&D

Researchers are often unable to access the information they need. And, even when data does get consolidated, researchers find it difficult to sift through it all and make sense of it in order to confidently draw the right conclusions and share the right results. Discover how to quickly and easily find, synthesize, and share information—accelerating and improving R&D.

The range of the bid also potentially took it above an offer by Menian Onehealth of $23.50 per ADS late last year and seemed to settle the protracted fight. Menian OneHealth is a rival to iKang in the health clinic business in China.

But according to Caixin, China Life said it remained in the game, even if management has dropped its offer. Earlier this month, iKang founder Zhang Ligang said the protracted battle had damaged operational continuity.

- here's the Caixin story

Related Articles:
Meinian Onehealth sweetens bid for iKang

Read more on

Suggested Articles

At one point, Novartis even offered up $90 apiece for the inclisiran developer but would later say even $85 was too much, a securities filing shows.

Sanofi spent months hyping its Tuesday investor event, and new CEO Paul Hudson certainly laid out a different vision for the drugmaker at the confab.

After more than 10 years as partners, Sanofi and Regeneron are splitting up their deal to comarket PCSK9 med Praluent and immunology drug Kevzara.