Chindex International, Inc. (NASDAQ:CHDX) to be acquired by Fosun for $369 million
Boston, MA 02/18/2014 (wallstreetpr) – Chinese Drug maker Shanghai Fosun Pharmaceutical Group Co Ltd looks set, to be the majority shareholder in Chindex International, Inc. (NASDAQ:CHDX) if it’s proposed acquisition deal worth $369 million is to go throw. The deal is expected to give Fosun direct access to the fast growing china health care industry. The deal will essentially see Fosun Pharmaceutical increase its stake in Chindex from 17.45% to $48.65%.
The deal is currently facing investigation on claims, that the board of directors at Chindex might have violated fiduciary laws in connection with the proposed sale. Under the agreement with Fosun, Chindex common stock would be acquired for $19.50 a share with Roberta Lipson expected to retain his position as the CEO of Chindex.
The investigation being carried out by Rights Law Firm Johnson & Weaver seeks to find whether Chindex violated its responsibilities to the company shareholders and whether the board of directors acquired the best price for the sale. Despite the ongoing investigation, Fosun intends to invest $193.7 million in Chindex with up to $45 million going to the medical equipment supplier.
Avino Silver & Gold Mines LTD (USA) (NYSEMKT:ASM) January production increased by 27%
Avino Silver & Gold Mines LTD (USA) (NYSEMKT:ASM) begun the new year with another record being broken in terms of production. The company recorded increased production in the month of January of 27% compared to December 2013 production. The company expects overall increase in production through the current fiscal year as the company continues to enjoy improved grades as it digs deeper into the San Gonzalo mine.
Silver and gold feed grades for the month of January increased by 20% and 7% respectively when compared with production in December F2013. Tonnage of concrete also increased due to higher feed grades. Avino shares are currently performing well in the market having soared by 20.54% in half day trading session to reach highs of $2.70.
The9 Limited (ADR) (NASDAQ:NCTY) subsidiary signs agreement with Shanghai Oriental Perl
The9 Limited (ADR) (NASDAQ:NCTY) has announced that one of its subsidiary Red 5 Studios has entered into a mutual agreement with Shanghai Oriental Perl Culture development company. The company shares are currently trading at a high having moved by as much as 15.17% in mid trading session. The shares are currently trading at $2.52 a share.
