BioDlink (1875 HK): WuXi XDC's Clean VGO

• Biopharma play BioDlink International (1875 HK) has announced a voluntary offer from Wuxi Biologics (2269 HK) -backed WuXi XDC Cayman (2268 HK).

• WuXi XDC is offering HK$4.00/share, a 99% premium to last close. Terms are final.

• The Offer is predicated on a 60% acceptance hurdle. And irrevocables are at 60%. This is done.

BioDlink is illiquid. Look away now if this is not your thing.

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The Trade:

• Super clean deal.

• Just a question of timing.

• If illiquid arbs are your bag, get involved at the opening bell.

• I can see this trading >HK$3.90/share - assuming early March payment.