China Resources Double-Crane Pharmaceutical (SHA:600062) plans to acquire 23.5% of Lier Chemical for an aggregate consideration of 5.66 billion yuan, according to a Shanghai bourse filing on Thursday.
About 20% and 3.5% of the herbicide maker will be bought from Jiuyuan Group and Huacai Technology, respectively.
The pharmaceutical company's shares dropped 4% during the morning trade.