"Barr Pharmaceuticals, Inc. (NYSE: BRL) today announced that its European subsidiary has today filed an amended tender offer with the Croatian Financial Services Supervisory Agency (HANFA) to purchase 100% of the shares of PLIVA d.d. based in Zagreb, Croatia. Under Croatian law, unless HANFA publicly discloses the amount upon approval of the amended bid, Barr is prohibited from discussing the amount and other specifics of its amended bid until HANFA approval is received and Barr publishes the terms of its amended bid in the Croatian media," according to a press release which the U.S. company published on its web site..
"The Company's previous bid of $2.3 billion, or HRK 743 per share, in cash was published in the (Croatian) "Official Gazette" on August 18, 2006, initiating the Company's 30-day tender process. On September 4, 2006, a competing bid by the Actavis Group of $2.5 billion, or HRK 795 per share, in cash was published in the "Official Gazette." Assuming HANFA's approval of Barr's amended bid, the tender offer period is now expected to expire on October 11, 2006," the lengthy press release says, among other things.