Australian cancer treatment firm Sirtex accepts $1.4b offer from China’s CDH

Photo: Sirtex Medical

Liver cancer treatment firm Sirtex Medical Ltd said on Thursday its board has recommended an offer from China’s CDH Investments to buy the firm for A$1.87 billion ($1.41 billion).

The deal will result in the termination of an agreement to sell itself to Varian Medical Systems Inc, it said in a statement.

CDH and its partner, China Grand Pharmaceutical and Healthcare Holdings Ltd, had offered to pay A$33.60 per share in cash in May.