BEIJING (dpa-AFX) - Sinovac Biotech Ltd. (SVA), a Chinese firm focused on human infectious diseases, confirmed on Tuesday that it has received an unsolicited partial tender offer from Alternative Liquidity Index LP to acquire up to a maximum of 10 million shares for $0.03 per share in cash.
The 10 million shares represent around 10.05 percent of Sinovac Biotech.
The company said: '.Sinovac's Board of Directors intends to evaluate the terms of the tender offer to determine the course of action that it believes is in the best interest of the Company and its shareholders. The Board also intends to advise shareholders of the Board's position regarding the tender offer within ten business days of receipt of the offer.'
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