Tiantan Bio abandons Paladin Biotech acquisition citing financial constraints
Beijing Tiantan Biological Products Corporation has abandoned its planned acquisition of Paladin Biotech, citing insufficient cash reserves that would impact operations if the deal proceeded.
The company said a limited transaction timeline and risks associated with business integration given Paladin Bio's complex history also influenced the decision. China National Biotec Group will instead proceed with the acquisition.
Paladin Bio reported 2024 revenue of 2.65 billion yuan and net profit of 745 million yuan, with total assets of 9.25 billion yuan.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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