Global cord blood corporation announces formation of a special committee to evaluate non-binding proposal

Hong kong, march 15, 2021 /prnewswire/ -- global cord blood corporation (nyse: co) ("gcbc" or the "company"), china's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services, today announced that in response to the non-binding proposal letter dated march 2, 2021 received by the company's board of directors (the "board") from alternate ocean investment company limited ("alternate ocean"), pursuant to which alternate ocean, acting on behalf of the fund (the "acquirer") that it manages and/or advises, proposes to acquire all of the outstanding ordinary shares of the company for us$5.00 per ordinary share in cash, subject to certain conditions. the board has formed a special committee of independent directors who are not affiliated with alternate ocean (the "special committee") to evaluate such proposal.
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