Sinopharm weighs US$4bil bid to take China TCM private

Potential deal: An employee displays a sample of the Covid-19 inactivated vaccine manufactured by Sinopharm in Beijing. The company is discussing an offer of HK$6 (RM3.39) for each China TCM share. — Xinhua

BEIJING: China National Pharmaceutical Group Co is considering a revived bid for China Traditional Chinese Medicine Holdings Co (China TCM) that may value the Hong Kong-listed drugmaker at around US$4bil (RM17.6bil), according to sources.

The state-backed firm known as Sinopharm, which holds a controlling stake in China TCM, is talking with advisers about a new offer to potentially take the company private, the sources said, after pulling a previous attempt last year.