On March. 16, 2016, China Nepstar (NYSE: NPD) announced it had entered into a definitive merger agreement for a going private transaction. The deal requires 66.6% of the shareholder votes to go through, and 79.5% of the shares have already been committed. The vote being the only material step to closing, the merger spread of ~5.3% is a steal.
Less than a week following the first post identifying an arbitrage opportunity in a Chinese going-private transaction, mergerarbitrages.com doubles down and adds China Nepstar Chain Drugstore to the buy list.