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SIGA Technologies (Nasdaq: SIGA) $14.19. Announced Friday after market close that it has signed a contract with the Biomedical Advanced Research and Development Authority (BARDA) of the United States Department of Health and Human Services (HHS) to deliver two million courses of its smallpox antiviral, ST-246(R), to the Strategic National Stockpile. The 5-year base contract award is worth $433 million and includes options that would raise the contract's total value to approximately $2.8 billion, if these options are fully exercised. Contract options include the delivery of up to 12 million additional courses of ST-246(R).
What They Do: SIGA Technologies, Inc. is a pharmaceutical company specializing in the development and commercialization of therapeutic solutions for some of the most lethal disease-causing pathogens in the world, including smallpox, Ebola, dengue, Lassa fever and other dangerous viruses.
CNinsure Inc. (Nasdaq: CISG) $13.16. Today announced that its Board of Directors has received a preliminary non-binding proposal letter dated May 14, 2011, from TPG Asia V MU, Inc. ("TPG Asia"), Kingsford Resources Limited, a company controlled by Mr. Yinan Hu, chairman of the Board of Directors and chief executive officer of the Company, and entities affiliated with him (collectively, the "Founder"), and CDH Inservice Limited ("CDH", together with TPG Asia and the Founder, the "Consortium Members"), to acquire all of the outstanding ordinary shares of the Company, other than certain American Depositary Shares ("ADSs") or ordinary shares held by the Founder and CDH, in a going private transaction for $19.00 per ADS, or $0.95 per ordinary share, in cash, subject to certain conditions. The Founder and CDH currently beneficially own, in the aggregate, approximately 34.3% of the Company's outstanding ordinary shares.
What They Do: CNinsure is a leading independent insurance intermediary company operating in China. CNinsure's distribution network reaches many of China's most economically developed regions and affluent cities.
China TechFaith Wireless Technology (Nasdaq: CNTF) $5.81. Today announced it will establish a joint venture company with Beijing E-town International Investment and Development Co Ltd ("BEIID"), a PRC stated owned investment and financing company headquarter in Beijing Economic and Technological Development Area for a period of 30 years. This new joint venture arrangement replaces the previously announced contract between TechFaith and BEIID, signed in September 2010, under which BEIID was given an option to convert its interest in the convertible bonds into TechFaith ordinary shares over the next 5 years at the price of US$5.00 per ADS.
For this joint venture, TechFaith will invest RMB 300 million and BEIID will invest RMB 200 million for their previously announced the development of a 10 million-unit capacity smart phone production line in Beijing. TechFaith shall hold 60% of the shares and BEIID will hold the remaining 40% for the joint venture.
What They Do: TechFaith is a leading global Original Developed Product mobile handset provider.
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