Croatian food processor Podravka has tabled a bid to take full-control of fish company Mirna.
Podravka built up a stake of 53.89% of Mirna’s total share capital, triggering the requirement for it to announce its intent to take full ownership of the group.
In a regulatory filing today (1 October), Podravka said it is offering HRK38.02 (US$6.27) per share. “The offered price corresponds to the price the bidder [Podravka] acquired the shares at the moment when the obligation to publish a takeover bid arose, and it is higher than the price determined in the study on evaluation of the target company share fair value,” the group said.
The offer period expires in 28 days time.