BRIEF—Sinovac board rejects partial takeover bid

Beijing-based biotech Sinovac has received a partial tender offer from Alternative Liquidity, to acquire up to 10,000,000 common shares at $0.03 per share.

In a statement, the company said its board had unanimously rejected the bid, describing it as not advisable and not in the best interests of the company or its shareholders.

The board recommended to shareholders that they reject the tender offer.

The vaccine developer is most well known for its COVID-19 vaccine, CoronaVac, which was widely used inside China as well as being approved and distributed in other countries, mainly in South America, Africa and Asia.