|Confirmed: Suitors Interested in BJGP|
|By Staff and Wire Reports|
|Monday, 19 July 2010 08:57|
As we told subscribers on Friday, multiple sources have confirmed to us that a buyout of Pennsylvania based BMP Sunstone Corp. (NASDAQ:BJGP) will likely take place within a matter of days.
The Nasdaq listed company, which offers an end-to-end solution to U.S and western pharmaceutical companies wishing to sell their pharmaceutical products in China, helps companies register pharmaceuticals for sale into this large and growing market.
The company makes an attractive takeover target because they are priced reasonably and have a unique niche in the pharmaceutical industry.
The latest rumors indicate a purchase price of corporation's shares at a value somewhere between $9 and $10 (we had previously reported a $10+ per share buy, but have since been corrected). Shares of the stock have been rising slowly but steadily since last Tuesday, but are still priced well under the reported valuation sticker price.
Officials will not comment, but one source indicated that the top suitor is a private equity company.
BMP Sunstone Corp. was incorporated in 2003 and is based in Plymouth Meeting, Pennsylvania.