Deals and Financings
Sinocare (SHZ:300298), a diabetes company based in Changsha, may bid as much as $4 billion to acquire Johnson & Johnson's (JNJ) diabetes medical device subsidiaries (see story). With falling revenues, some of J&J's diabetes-focused companies are exiting from the US market because they can no longer compete and revenues are falling. Sinocare is backed by China Jianyin Investment ((JIC)), a unit of sovereign wealth fund China Investment Corp., according to sources cited by Reuters, which also said Sinocare has hired an advisor to work on a bid.
China's Ping An Insurance