Even if Bi (9.17%) and Hong (5.55%) don't tender, XJF should still get to 50%. It's still doable even if Mengniu doesn't tender. If illiquid arbs are your bag, get involved here and on any weakness.
What is covered in the Full Insight:
Introduction to the Offer
Background of GAPack and Stake Acquisition
Details of XJF's Offer
Current Shareholder Situation
Outlook and Conclusions
SUMMARY
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