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Sinclair Pharma says Chinese firms given more time to make takeover offer

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(Reuters) – Sinclair Pharma <SPH.L> said on Thursday that Britain’s Takeover Panel had agreed to allow privately owned China Grand Enterprises and its affiliate company Huadong Medicine Co <000963.SZ> more time to make an offer for the British firm.

Under British takeover rules, China Grand Enterprises and Huadong Medicine now have until Aug. 23 to either announce a firm intention to make an offer or walk away.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr)

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