China: Sinovac confirms receipt of an unsolicited partial tender offer

Nasdaq-listed Sinovac Biotech, a China-based biopharmaceutical company, has confirmed  receipt of an unsolicited partial tender offer from Alternative Liquidity Index, a provider of liquidity to investors in illiquid stocks, to purchase up to a maximum of 10,000,000 shares in the company, representing approximately 10.05% of Sinovac Biotech’s outstanding shares, for US$0.03 per share in cash….