Consortium including Gao, GL Capital bid to take China Biologic private

A consortium comprising former executive David Gao, GL Capital Group, Bank of China Group Investment Ltd. and CDH Investments proposed on Friday to take plasma products company China Biologic Products Holdings Inc. (NASDAQ:CBPO) private for $118 per share in cash. Gao was terminated as China Biologic's chairman and CEO in July after holding the roles since 2012.

The price values the company at $3.9 billion, based on 33.2 million outstanding shares, and is a 31% premium to its Aug. 16 close of $90.40, before the offer was disclosed in a letter to the company's board. ...