Deals
China's Mindray Completes U.S. Delisting After $1.9 Billion Deal
- Seven of 42 Chinese firms with buyouts have completed process
- Mindray merges with Solid Union, Excelsior at $28 per ADR
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Mindray Medical International Ltd. has become the latest Chinese company to delist from an American exchange after completing a $1.9 billion privatization deal as a record wave of buyouts continues this year.
The medical device maker has merged with Solid Union Ltd., a unit of Excelsior Union Ltd. based an offering price of $28 per American depositary receipts, according to a statement. The ADRs closed at $27.94 on Thursday, the last trading day. The company first received a non-binding offer of $30 per ADR from the management to take the company private in June.