<article>Sinclair Pharma Plc has received a takeover approach from Chinese conglomerate China Grand Enterprises Inc. Shares jumped as much as 36 percent in London trading.</article>

Sinclair Pharma Plc has received a takeover approach from Chinese conglomerate China Grand Enterprises Inc. Shares jumped as much as 36 percent in London trading.
The two companies are in “very early stage” talks, and there’s no certainty an offer will be made, Sinclair said in a statement Thursday, confirming a Bloomberg report. The companies are working with financial advisers as they explore a potential deal, people familiar with the matter said, asking not to be identified because the discussions are private.
China Grand Enterprises didn’t immediately respond to requests for comment.
The talks highlight Chinese firms’ interest in overseas health-care firms, following a trend in other sectors from chemicals to infrastructure and technology. China Grand Enterprises’s listed health-care business, China Grand Pharmaceutical &amp; Healthcare Holdings Ltd., and private equity fund CDH Investments Fund Management Co. are in talks to acquire Australia’s Sirtex Medical Ltd.
Sinclair rose 23 percent to 22.5 pence in London trading at 1:43 p.m. after earlier rising as high as 24.8 pence, the biggest intraday gain since 2009. The company has a market value of about 118 million pounds ($156.5 million).
Earlier this year, AstraZeneca Plc sold some international sales and licensing rights for its Seroquel schizophrenia treatment to China’s Luye Pharma Group Ltd. for $538 million.
Bloomberg

The talks highlight Chinese firms’ interest in overseas health-care firms, following a trend in other sectors from chemicals to infrastructure and technology.

Sinclair Pharma confirms takeover interest from China Grand Enterprises

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Sinclair Pharma confirms takeover interest from China Grand Enterprises

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