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3SBio Inc. Announces Receipt of Amended "Going Private" Proposal at $16.70 Per ADS and Intent to Adjourn Extraordinary General Meeting of Shareholders
Date:4/22/2013

SHENYANG, China, April 22, 2013 /PRNewswire/ -- 3SBio Inc. (NASDAQ: SSRX) ("3SBio" or the "Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced that the independent committee of its board of directors (the "Independent Committee") has received a proposal letter (the "Proposal Letter") dated April 22, 2013 from Dr. Jing Lou , the Company's Chairman and Chief Executive Officer ("Dr. Lou"), and CPEChina Fund, L.P., an exempted limited partnership registered under the laws of the Cayman Islands and a China-focused private equity fund associated with CITIC Private Equity Funds Management Co. Ltd. ("CITIC PE"), in connection with the proposed merger under the agreement and plan of merger dated as of February 8, 2013, by and among the Company, Decade Sunshine Limited ("Parent") and Decade Sunshine Merger Sub (the "Merger Agreement").

In the Proposal Letter, Dr. Lou and CITIC PE proposed to increase the merger consideration payable to holders of ordinary shares, par value $0.0001 per share, of the Company (the "Shares"), and holders of American Depository Shares of the Company, each representing seven Shares (the "ADSs"), from $2.20 per Share, or $15.40 per ADS, under the Merger Agreement to $2.3857 per Share, or $16.70 per ADS, pursuant to a proposed amendment to the Merger Agreement.  The proposed increase in the merger consideration represents an 8.4% premium to the current merger consideration under the Merger Agreement, a 9.9% premium to the closing price of the ADSs of April 19, 2013, and a 44% premium to the closing price of the ADSs of September 11, 2012, the last trading day prior to the Company's announcement on September 12
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