Ping An Said to Mull Rival Takeover Offer for China Biologic - (Bloomberg via NewsPoints Desk)

  • According to people familiar with the situation, Chinese insurer Ping An Insurance is considering tabling a competing offer for plasma treatment provider China Biologic Products, reported Bloomberg.

  • The sources said Ping An is negotiating with other investors about a potential joint bid for China Biologic.

  • The people indicated that any offer would be higher than the current proposal for $110 per share from Chinese buyout firm Citic Capital, which valued China Biologic at about $3.6 billion.

  • China Biologic, which markets plasma products including albumin, immunoglobulin for intravenous injection and coagulation factor products, last month confirmed that it had received an unsolicited, non-binding proposal letter from Citic seeking to take the company private.

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