KUNMING, CHINA--(Marketwired - Apr 16, 2013) - China Shenghuo Pharmaceutical Holdings, Inc. (PINKSHEETS: CKUN) ("China Shenghuo" or the "Company"), today announced that the special committee consisting solely of independent directors (the "Special Committee") has accepted an offer from Lan's Int'l Medicine Investment Co., Limited ("LIMI") to take the Company private (the "Going Private Transaction") by effecting a reverse stock split followed by a cancellation of all fractional shares below one whole share at a per share price of $0.16 (the "Going Private Proposal"). LIMI has agreed to fund the payout of fractional shares.
Reported by Marketwired 6 hours ago.
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