Dehaier Medical mulls takeover bid

 

Dehaier Medical said today it received a $20 million equity investment offer from Hangzhou Liaison Interactive Information Technology for 10 million newly issued common shares at $2 per share.

Dehaier, who markets and sells medical devices and respiratory products in China and internationally, said it assembled a special committee to consider the investment proposal.

None of Dehaier’s board members “has an interest in the proposal,” the company said, but it none-the-less assembled a special committee of 3 independent directors of the company, who will retain independent legal and financial advisors for the process.

The company’s board cautioned stockholders and any traders considering investing in its shares that it received the letter but has not made any decisions on the offer. The board stayed non-commital, saying there was no assurance whether the company will accept or reject the offer.

Dehaier develops and assembles branded devices and sleep respiratory products from 3rd party components, and distributes products designed and manufactured by other companies, according to a press release.

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