China Cord Blood Corporation (CO) was a big mover last session with its shares rising nearly 14% on the day. The upside was owing to the company’s announcement that its board of directors has received a non-binding acquisition proposal letter from Nanjing Xinjiekou Department Store Co., Ltd., wherein the latter has offered to acquire the whole of the company's China business, including all equity interests in its Chinese subsidiaries and assets and resources relating to its business in China. The purchase price offered is around RMB6.0 billion. This development led to far more shares changing hands yesterday than in a normal session. This continues the recent uptrend of the company as the stock has gained nearly 23% in the past one-month time frame.
This provider of umbilical cord blood storage and ancillary services has seen no estimate revision in the last 30 days. The Zacks Consensus Estimate hasn’t been in trend either. Yesterday’s rally is encouraging though, so make sure to keep a close watch on this firm in the near future.
China Cord Blood currently holds a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
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