Cordlife's 'belle of the ball' in bid for China Cord Blood

Singapore

A TAKEOUT offer for a major China cord blood firm listed on the New York Stock Exchange is firing up interest in its substantial shareholder Singapore-listed Cordlife Group with expectations that it too may be a target in the bid to control China Cord Blood Corp (CCBC).

On Monday, CCBC said that it received a non-binding cash offer from its 42 per cent owner Golden Meditech (GM) for US$6.40 per share, ending weeks of speculation of a possible privatisation bid. (Golden Meditech is 27 per cent owned by CCBC chairman Kam Yuen).