Why Global Cord Blood Corporation Stock Is Jumping Today

Prosper Junior Bakiny, The Motley Fool

March 2, 2021 at 12:42 p.m.·2 min read

Why Global Cord Blood Corporation Stock Is Jumping Today

Shares of Global Cord Blood Corporation (NYSE: CO), a provider of umbilical cord blood stem cells storage, are rising sharply on Tuesday, following the company's announcement of an unsolicited non-binding acquisition proposal. As of 12:25 p.m. EST, Global Cord Blood's stock was up by 11.5% after popping by as much as 14.6% earlier in the day. Global Cord Blood announced that it has received an acquisition proposal letter from Alternate Ocean Investment Company Limited, a subsidiary of Hong Kong-based investment bank Haitong International Securities Group Limited.

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