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Chindex’s Original Go-Private Acquirers Increase Offering Price

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The original bidders for NASDAQ-listed Chindex International, Inc. have increased their offering price to US$24 per share from the original US$19.50 apiece, according to a regulatory filing of one of the acquirers.

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. says in a filing with the Shanghai Stock Exchange that it, together with TPG Capital and Chindex’s founder and CEO, Roberta Lipson, has raised its offering price after receiving a better offer from another financial investor.

On February 17, Bethesda, Maryland-headquartered Chindex says it has entered into a definitive merger agreement with TPG Capital, Shanghai Fosun Pharmaceutical and Chindex CEO Roberta Lipson to take the company private for US$19.50 per share in cash.

On April 14, Chindex says that another investor, which was identified later as the Carlyle Group by Chinese media reports, proposed to a buy out Chindex at US$23 per share, an 18% increase from its original offering price.

The current revised offer is 23% higher than the original buyer consortium’s initial offering price.

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