Good evening,

There’s no trial runs here.

First-round bids are due this week for Crescent Capital’s Nucleus Networks and Chinese giant WuXi AppTec is understood to be taking a close look at the contract research organisation.

The business, which specialises in phase-one clinical trials, has locations throughout Australia and the US.

It conducted clinical trials for COVID-19 vaccines and is sure to be in hot demand, with the CRO sector proving to be at a fever pitch globally this year.

With an $86 billion-odd market capitalisation behind it, WuXi will prove a fierce opponent for any interested PE bidders.

Elsewhere, all eyes are on Transurban and its Sydney Transport Partners consortium as D-day arrives for WestConnex; ASX-listed CIMIC and Apollo Global prepare to put their contractor Ventia to potential investors for a float; WorkPac has raised a $20 million convertible note; and Bank of America has joined Goldman Sachs, UBS and Credit Suisse on APM’s mooted IPO.

Happy reading,
Anthony Macdonald and Yolanda Redrup
Street Talk editors