Unknown buyers made a non-binding proposal to acquire Global Cord Blood Corporation (NYSE:CO) from Blue Ocean Structure Investment Company Ltd. and others for approximately $610 million on March 2, 2021. Alternate Ocean Investment Company Limited made the proposal on behalf of certain funds and/or entities that it manages and/or advises. Under the terms of the offer, the buyers will pay $5 per ordinary share in cash to acquire all of the outstanding ordinary shares of Global Cord Blood Corporation. The transaction will be funded with a combination of equity capital and debt financing. Alternate Ocean expects commitments for both equity and debt financing to be in place when the definitive agreements are signed. Equity financing would be provided by certain of the funds and/or entities that managed and/or advised by Alternate Ocean Investment. The transaction is subject to certain conditions including but not limited to, completion of due diligence, parties entering into definitive agreement, and/or the buyers and Global Cord Blood each obtaining the relevant regulatory and shareholders’ approval. Global Cord Blood Corporation shareholders need to take no action at this time. As on March 15, 2021, Global Cord Blood Corporation announced the formation of a special committee of independent directors who are not affiliated with Alternate Ocean to evaluate the proposal. The Special Committee consists of Mark D. Chen, Ken Lu, Jack Chow and Jacky Cheng, each of whom currently serves as an independent director on the Board, with Mark D. Chen serving as the chair of the special committee. Skadden, Arps, Slate, Meagher & Flom LLP, Conyers Dill & Pearman (Cayman) Limited and Haiwen & Partners acted as the legal advisors to Alternate Ocean Investment Company Limited.