NEW YORK, NY / ACCESSWIRE / June 19, 2018 / JD.com and China Biologic Products Holdings both saw gains in Monday trading. JD.com saw a modest rise after Wall Street learned that Google is investing $550 million into the company. China Biologic Products Holdings closed up over 21% after a unit of CITIC Capital Holdings Ltd offered to buy the company for $110 in cash for each share it does not own.
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China Biologic Products Holdings, Inc.
JD.com, Inc. shares closed up a modest 0.39% on about 44 million shares traded on Monday. It was revealed yesterday that Alphabet Inc.’s Google unit is investing $550 million into JD.com. Both companies announced the investment yesterday and said it was one piece of a broader partnership that will include Google's shopping service including JD.com products. This will allow the company (JD.com) to reach a bigger market than just China. A JD spokesman said that the investment gives Google a 1% stake in the company. The investment will also help both companies expand their retailing presence. "This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world," remarked Jianwen Liao, JD.com's chief strategy officer. Analyst Youssef Squali of SunTrust Robinson Humphrey noted, "We think the addition of JD should strengthen Google Shopping. Google has worked over the past 12-18 months to increase the number of partners available on its shopping site and through its smart assistant to include the likes of Target (TGT), Walmart (WMT), Home Depot (HD), and Costco (COST)."
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China Biologic Products Holdings, Inc. shares closed up 21.15% on nearly 2.7 million shares traded yesterday. Trading volume was almost 10 times higher than usual on Monday after it was revealed that a unit of Chinese investment firm CITIC Capital Holdings Ltd, CCRE, has offered to buy China Biologic Products Holdings Inc. for $110 in cash for each share it does not already own. The offer would value the company at $3.65 billion. This value is close to the all-time high touched by the company in early 2016. CCRE owns 5.1% of China Biologic as of June 8th and is planning to finance the transaction with a combination of debt and equity. China Biologic makes and sells plasma products including human immunoglobin, to prevent diseases such as measles and hepatitis. It was last week that China Biologic Products announced that its' majority-owned subsidiary Shandong Taibang Biological Products Co. Ltd., has obtained approval from the China Food and Drug Administration to begin human clinical trials on its Human Fibrin Sealant product. It is planned to be used as an adjunct to hemostasis on patients undergoing surgery in case traditional surgical techniques such as sutures, ligatures, and cauteries are ineffective or impractical.
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