3SBio Inc (SSRX)

[surf1944]

11:54AM 3SBIO enters into amendment to merger agreement for going private transaction; increased to $16.70 per ADS from $15.40 per ADS; expected to close during Q2 (SSRX) 16.53 +0.21 : Pursuant to the Amendment, the merger consideration payable to holders of ordinary shares, par value $0.0001 per share, of the Company (the "Shares"), and holders of ADSs, under the Merger Agreement is increased from $2.20 per Share, or $15.40 per ADS, to $2.3857 per Share, or $16.70 per ADS. The increase in the merger consideration represents an approximately 8.4% premium to the original merger consideration under the Merger Agreement, 9.9% premium to the closing price of the ADSs on April 19, 2013, the last trading day prior to the Company's announcement on April 22, 2013 that it had received the revised "going private" proposal from the Buyer Consortium , and 44.1% premium to the closing price of the ADSs on September 11, 2012, the last trading day prior to the Company's announcement on September 12, 2012 that it had received the original "going private" proposal from the Buyer Consortium. Parent intends to finance the increase in the merger consideration through a combination of additional convertible note financing from CITIC PE and additional cash in the Company.