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Friday, February 8, 2013

3SBio to go private in $340 million deal, (NASDAQ: SSRX)

Chinese biotechnology firm 3SBio Inc said it agreed to be bought by Decade Sunshine Ltd for about $340 million. The offer of $15.40 per American Depositary Shares (ADS) is at a premium of about 12 percent to the ADS's Thursday close of $13.79.

3SBio Inc. is a biotechnology company in the People's Republic of China with research and development, manufacturing, and marketing capabilities focusing on bio-pharmaceutical products. Shares of SSRX remained unchanged at $13.79. In the past year, the shares have traded as low as $10.15 and as high as $15.33. On average, 72648 shares of SSRX exchange hands on a given day and today's volume is recorded at 0.