Harpoon's $2 billion acquisition of GNC U.S. agreed

After passing the REVIEW of CFIUS, we need to wait for the approval or filing of Heilongjiang National Development and Reform Commission and other regulatory bodies, Ha Pharmaceuticals is not far from the successful acquisition of GNC, not far from the acquisition ofHa Pharmaceuticals, through CFIUS review
recently (September 14), Ha Pharmaceutical Group issued a "progress announcement on the subscription of convertible preferred shares issued by GNC."
, on September 13, 2018, the company received a notification from the Committee on Foreign Investment in the United States ("CFIUS"). The notice states that CFIUS has reviewed the proposed purchase agreement between GNC Holdings, Inc. and the Company for 299,950 convertible preferred shares at a purchase price of $1,000 per share, totalling approximately $300 million (approximately RMB2 billion), and has determined that there are no unresolved national security issues in this transaction.
data show that this is this year after a number of Chinese mergers and acquisitions were blocked, the rare transactions through the CFIUS review. At present, the transaction has been approved and approved by the State-owned Assets Supervision and Administration Commission of Harbin City, pending approval or filing by the Heilongjiang Development and Reform Commission and the Heilongjiang Provincial Administration of Foreign Exchange and other regulatory agencies.
proved a step closer to the success of Harpoon's acquisition of GNC, the nation's largest health care giant.
same time, GNC's shares surged after the news, rising 25 percent to $3.75 a share on September 13 and 14. It is clear that capital markets are optimistic about the acquisition.acquisition of GNC, or will change the performance of the company's five consecutive years of declining revenue
on February 14th, the group announced the termination of a major asset restructuring. According to the announcement, the planned asset restructuring of the company is intended to acquire its China operations through investments in GNC Holdings, Inc., a listed company on the New York Stock Exchange, and a bid.
investment is completed, hapo will become GNC's largest shareholder, holding about 40% of GNC's common stock.
1935 and headquartered in Pittsburgh, Pennsylvania, GNC is the world's largest professional manufacturer of health nutrition products and one of the most well-known health care brands in the United States, according to public information released by the Company. As the world's leading dietary nutritional supplement company, GNC's product line covers sports nutrition, vitamins and minerals, herbal extraction and other professional nutritional supplement products.
As a comprehensive large-scale pharmaceutical enterprises, Ha Pharmaceutical Group's main varieties of more than 400, covering the whole population of drugs, its vitamin mineral products are: "three fine calcium gluconate oral solution," "three fine glucose acid zinc oral solution," "new cover brand high calcium tablets," "calcium and zinc oral solution" and so on.
According to the 2018 semi-annual report released by Kazakhstan Pharmaceuticals, the company achieved first-half operating income of 5.634 billion yuan, down 8.66% YoY, while Ha Pharmaceuticals has been five consecutive years of declining revenue; Among them, the health care products business revenue of 316 million yuan, an increase of 7.42% year-on-year.
is enough to see the importance of the health care business to the pharmaceutical group.guo Fanli, a senior medical researcher at
, said in an interview: "The health care products business, as one of the businesses of Ha Pharmaceutical Group for many years, has well-known brands such as the new cover high calcium tablets, three fine glucose oral solutions, and the market for health care products, or will help Ha Pharmaceutical Group to improve its performance." For
, if the acquisition is successful, the company could change its five-year decline in revenue and gain new market growth. (Seber Blue)