Chindex Receives Superior Buyout Offer For $23 Per Share, Stock Up 16% To Multi-year High

Chindex (CHDX) said it received a superior buyout offer of $23 per share from an undisclosed financial bidder, topping an existing consortium bid of $19.50. Chindex stock surged more than 16%.

A consortium of private equity firm TPG, Shanghai Fosun Pharmaceutical Group and Chindex CEO Roberta Lipson had made the earlier offer for the private hospital and clinic operator. The consortium has the right to modify its bid, Chindex said.

In mid-day trade, Chindex was up 16.30 percent to $22.69, a more than 5-year high for the stock.

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