New Hope Network is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

GNC stockholders approve Harbin Pharmaceutical deal

GNC logo
Reconvened meeting results in majority votes for Chinese investment.

GNC Holdings Inc. (NYSE: GNC) announced May 17 that its stockholders approved the company's proposal to issue convertible preferred shares to Harbin Pharmaceutical Group Holdings Co., Ltd. ("Hayao") in connection with Hayao's $300 million strategic investment in GNC (the "share issuance proposal") at the company's special meeting of stockholders, which reconvened on May 17, 2018.

An aggregate of 44,121,445 shares, representing a majority of the shares outstanding and over 94 percent of the votes cast at the special meeting, were voted in favor of the share issuance proposal. 

The transaction is subject to customary closing conditions, including receipt of all necessary regulatory and governmental approvals, and is expected to close in the second half of 2018.

Source: GNC

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.