3-S Bio ( Nasdaq - SSRX ) -- Buyout Price Increased to $16.70 a Share

3-S Bio (SSRX $16.20) said the buyout group attempting to purchase the company raised its offer from $15.40 a share to $16.70 a share.  No explanation for the 8% improvement was given.  A shareholder meeting is scheduled this month to vote on the proposal.  The price remains modest in relation to 3-S Bio's long term potential.  The company enjoys leading market shares with two fast growing drugs.  Additional products are in development.  The Chinese medical industry is poised to expand dramatically over the next decade.  And 3-S Bio has a joint venture in place with U.S. based Davita that could yield substantial benefits.  The private equity fund orchestrating the acquisition is connected with the Chinese government, though.  And the company's C.E.O. is part of the buyout group.  So alternative offers are unlikely.

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