Voyah Pharmaceuticals surged 57% after receiving a 60% premium offer from WUXI XDC for acquisition

Voyah (01875.HK) received a premium offer of 60% from WUXI XDC (02268.HK) for a takeover. After resuming trading this morning (15th), the stock reached a high of HKD 3.97, currently reported at HKD 3.93, up 57.2%, with a trading volume of 2.8 million shares, involving HKD 11.0256 million.

Voyah, WuXi Biologics (02269.HK), and WUXI XDC jointly announced that WUXI XDC, as the offeror, has made a voluntary offer to acquire all shares of Voyah at a cash price of HKD 4 per share, representing a 60% premium over the last closing price before the suspension. Including the cancellation price of stock options, the maximum cost is approximately HKD 2.79 billion, and the offeror intends to pay using internal resources.

WUXI XDC stated that upon completion of the transaction, Voyah will become a subsidiary of WUXI XDC and WuXi Biologics, while Voyah will continue to be listed on the Hong Kong Stock Exchange and plans to nominate new directors.

WUXI XDC believes that acquiring Voyah will expand and acquire additional operational manufacturing capacity in China. This transaction also aligns with WUXI XDC's ongoing business development plan, helping to further enrich its project portfolio and expand its customer base. The transaction will further strengthen WUXI XDC's leading market position in the field of contract development and manufacturing organizations for antibody-drug conjugates