Guangzhou Newlife New Material (SHE:301323) plans to acquire Guangzhou Jinnan Magnetic Materials through the issuance of shares and cash payment, according to a Shenzhen Stock Exchange filing on April 11.
Jinnan Magnetic Materials is a manufacturer of magnetic materials and semiconductor discrete devices. It also processes metallurgy products and photovoltaic equipment.
The Chinese manufacturer of flexible magnetic materials suspended the trading of its shares on the announcement of the potential transaction.
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