CITIC Capital offers to buy China Biologic in deal valuing firm at $3.65b

U.S. Dollar and China Yuan notes are seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration

A unit of Chinese investment firm CITIC Capital Holdings Ltd said on Monday it has offered to buy U.S.-listed biotech firm China Biologic Products Holdings Inc, in a deal valuing the company at $3.65 billion.

China Biologic makes and sells plasma products, such as human immunoglobin, to prevent diseases such as measles and hepatitis.

The company’s shares rose 15.8 percent to $95 in premarket trading.

The unit, CCRE, offered $110 in cash for each share of China Biologic it does not already own.

As of June 8, CCRE owned a 5.1 percent stake in China Biologic.

CCRE said it plans to finance the transaction with a combination of debt and equity.

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